BILL ANALYSIS Senate Research Center C.S.S.B. 1939 89R21186 AND-D By: Hinojosa, Juan "Chuy" Transportation 3/25/2025 Committee Report (Substituted) AUTHOR'S / SPONSOR'S STATEMENT OF INTENT The Ship Channel Improvement Revolving Fund (SCIRF) is a revolving loan fund created in 2017 by the 85th Texas Legislature under S.B. 28 (85R), to allow the Texas Transportation Commission to provide flexible, low-interest loans to deepen or widen congressionally approved ship channel projects. During the 88th Legislative Session (2023), the Texas Legislature funded the SCIRF for the first time with a $400 million appropriation to the fund. Currently, the SCIRF is an account in the General Revenue Fund. S.B. 1939 seeks to move the SCIRF to a separate account within the State Highway Fund (SHF) by amending Section 56.002(a) of the Transportation Code. The bill would also transfer the unencumbered balance of the SCIRF to new SHF account created by this bill. This will ensure that all interest or other earnings that accrue on all revenue held in the SCIRF remain in the SCIRF and is not deposited to the General Revenue Fund. (Original Author's/Sponsor's Statement of Intent) C.S.S.B. 1939 amends current law relating to the ship channel improvement revolving fund. RULEMAKING AUTHORITY This bill does not expressly grant any additional rulemaking authority to a state officer, institution, or agency. SECTION BY SECTION ANALYSIS SECTION 1. Amends Section 403.0956, Government Code, as follows: Sec. 403.0956. REALLOCATION OF INTEREST ACCRUED ON CERTAIN DEDICATED REVENUE. Provides that this section does not apply to certain interest, earnings, or accounts, including the ship channel improvement revolving fund. Makes nonsubstantive changes. SECTION 2. Amends Section 56.002(a), Transportation Code, to provide that the ship improvement revolving fund is a separate account in the state highway fund, rather than an account in the general revenue fund. SECTION 3. Requires the Comptroller of Public Accounts of the State of Texas, on the effective date of this Act, to transfer the unencumbered balance of the ship channel improvement revolving fund established under Chapter 56 (Funding of Ship Channel Improvements), Transportation Code, to an account of the same name in the state highway fund. SECTION 4. Effective date: upon passage or September 1, 2025.
BILL ANALYSIS
Senate Research Center C.S.S.B. 1939
89R21186 AND-D By: Hinojosa, Juan "Chuy"
Transportation
3/25/2025
Committee Report (Substituted)
Senate Research Center
C.S.S.B. 1939
89R21186 AND-D
By: Hinojosa, Juan "Chuy"
Transportation
3/25/2025
Committee Report (Substituted)
AUTHOR'S / SPONSOR'S STATEMENT OF INTENT
The Ship Channel Improvement Revolving Fund (SCIRF) is a revolving loan fund created in 2017 by the 85th Texas Legislature under S.B. 28 (85R), to allow the Texas Transportation Commission to provide flexible, low-interest loans to deepen or widen congressionally approved ship channel projects. During the 88th Legislative Session (2023), the Texas Legislature funded the SCIRF for the first time with a $400 million appropriation to the fund. Currently, the SCIRF is an account in the General Revenue Fund. S.B. 1939 seeks to move the SCIRF to a separate account within the State Highway Fund (SHF) by amending Section 56.002(a) of the Transportation Code. The bill would also transfer the unencumbered balance of the SCIRF to new SHF account created by this bill. This will ensure that all interest or other earnings that accrue on all revenue held in the SCIRF remain in the SCIRF and is not deposited to the General Revenue Fund.
(Original Author's/Sponsor's Statement of Intent)
C.S.S.B. 1939 amends current law relating to the ship channel improvement revolving fund.
RULEMAKING AUTHORITY
This bill does not expressly grant any additional rulemaking authority to a state officer, institution, or agency.
SECTION BY SECTION ANALYSIS
SECTION 1. Amends Section 403.0956, Government Code, as follows:
Sec. 403.0956. REALLOCATION OF INTEREST ACCRUED ON CERTAIN DEDICATED REVENUE. Provides that this section does not apply to certain interest, earnings, or accounts, including the ship channel improvement revolving fund. Makes nonsubstantive changes.
SECTION 2. Amends Section 56.002(a), Transportation Code, to provide that the ship improvement revolving fund is a separate account in the state highway fund, rather than an account in the general revenue fund.
SECTION 3. Requires the Comptroller of Public Accounts of the State of Texas, on the effective date of this Act, to transfer the unencumbered balance of the ship channel improvement revolving fund established under Chapter 56 (Funding of Ship Channel Improvements), Transportation Code, to an account of the same name in the state highway fund.
SECTION 4. Effective date: upon passage or September 1, 2025.