88R8154 KJE-D
By: Jetton H.B. No. 3812
A BILL TO BE ENTITLED
AN ACT
relating to the establishment and use of the Texas Infrastructure
Fund.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Chapter 403, Government Code, is amended by
adding Subchapter U to read as follows:
SUBCHAPTER U. TEXAS INFRASTRUCTURE FUND
Sec. 403.651. DEFINITION. In this subchapter, "fund" means
the Texas Infrastructure Fund.
Sec. 403.652. TEXAS INFRASTRUCTURE FUND. (a) The Texas
Infrastructure Fund is established as a fund in the state treasury
outside the general revenue fund.
(b) The fund consists of:
(1) money appropriated to the credit of the fund; and
(2) the interest and other earnings attributable to
the investment of money in the fund.
(c) Money in the fund may be appropriated only to the
comptroller for the purpose of awarding grants to public or private
entities for infrastructure projects under this subchapter,
including infrastructure projects involving:
(1) water, ports, or other marine infrastructure;
(2) broadband;
(3) highways, toll roads, or bridges;
(4) aviation;
(5) rail; or
(6) other transit infrastructure.
Sec. 403.653. OVERSIGHT COMMITTEE. (a) The comptroller
shall establish an oversight committee to make recommendations to
the comptroller regarding the awarding of grants from money
appropriated from the fund.
(b) The oversight committee is composed of the following
seven members:
(1) the governor or the governor's designee;
(2) the lieutenant governor or the lieutenant
governor's designee;
(3) the speaker of the house of representatives or the
speaker's designee;
(4) the commissioner of the General Land Office or the
commissioner's designee;
(5) the comptroller or the comptroller's designee;
(6) the executive director of the Texas Department of
Transportation or the executive director's designee; and
(7) the chief financial officer of the Texas
Department of Transportation or the officer's designee.
Sec. 403.654. AWARD OF GRANTS. To the extent practicable,
the comptroller shall award grants from money appropriated from the
fund in a manner that:
(1) takes into account the recommendations made to the
comptroller by the oversight committee under Section 403.653;
(2) ensures that the amount awarded for a specific
type of infrastructure project does not exceed 50 percent of the
amount appropriated from the fund; and
(3) promotes and supports public-private partnerships
that the comptroller determines:
(A) are financially viable;
(B) will diversify the methods of financing
available for infrastructure projects; and
(C) will reduce reliance on the issuance of
general obligation bonds supported with state general revenue.
Sec. 403.655. RULES. (a) The comptroller shall adopt rules
regarding the awarding of grants from money appropriated from the
fund, including rules regarding:
(1) eligibility criteria for grant applicants;
(2) grant application procedures;
(3) criteria for evaluating grant applications and
awarding grants;
(4) guidelines related to grant amounts; and
(5) procedures for monitoring the use of a grant and
ensuring compliance with any conditions of the grant.
(b) The rules adopted under Subsection (a) may include rules
requiring a grantee to provide matching funds as a condition of the
grant.
SECTION 2. This Act takes effect September 1, 2023.