89R8078 JAM-D
By: Harris H.B. No. 2003
A BILL TO BE ENTITLED
AN ACT
relating to provision to the Texas Department of Transportation of
information regarding certain high-speed rail projects.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Subchapter B, Chapter 111, Transportation Code,
is amended by adding Section 111.059 to read as follows:
Sec. 111.059. INFORMATION ON CERTAIN HIGH-SPEED RAIL
PROJECTS. (a) In this section, "high-speed rail" has the meaning
assigned by Section 112.201.
(b) An entity that proposes a high-speed rail project shall
submit to the department each year that the project is included in
the Texas Rail Plan the following information:
(1) the proposed method of financing of the
construction or acquisition of the project, including:
(A) the extent to which funds for financing are
currently available; and
(B) for any securities to be issued:
(i) the approximate terms of sale and total
fixed charges of the securities;
(ii) whether the securities issued will be
underwritten by industries to be served by the proposed line; and
(iii) an explanation of how the fixed
charges will be met;
(2) a recent balance sheet;
(3) a present value determination of the full costs of
the proposal;
(4) if construction is proposed, the costs for each
year of the construction;
(5) a proposed schedule for completion of the project,
including timeline for permitting, funding, and land acquisition;
(6) ridership projections and methodology;
(7) the proposed route;
(8) an organization chart of the entity's management
and staff; and
(9) a disclosure of any current or planned foreign
investment in the project.
(c) The department shall make the information submitted
under this section available to the public on the department's
Internet website.
SECTION 2. This Act takes effect September 1, 2025.