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TX HB4888
Bill
Status
3/13/2025
Primary Sponsor
Terry Canales
Click for details
AI Summary
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Regional mobility authorities may use surplus revenue to provide financial assistance to governmental entities within their geographic boundaries for toll or toll-free transportation projects
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Authorized forms of financial assistance include direct loans, credit enhancements, capital reserves for bond financing, interest rate subsidies, letters of credit, and security for bonds and debt instruments
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Financial assistance is limited to transportation projects consistent with the metropolitan planning organization's transportation plan
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Governmental entities receiving assistance may issue revenue bonds to repay the authority without complying with other bond issuance laws, though bonds must be approved by the attorney general and registered by the comptroller
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Revenue bonds may mature up to 50 years after issuance, and the authority may require recipient entities to levy taxes or charges to ensure sufficient funds for repayment
Legislative Description
Relating to the provision by a regional mobility authority of financial assistance for transportation projects of governmental entities located in the area of the authority; providing authority to issue bonds.
COMPTROLLER OF PUBLIC ACCOUNTS
Last Action
Left pending in subcommittee
4/14/2025