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TX SB1384
Bill
Status
2/19/2025
Primary Sponsor
Sarah Eckhardt
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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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Financial assistance options include direct loans, credit enhancements, capital reserves for bond financing, interest rate subsidies, letters of credit insurance, transit project lease financing, and bond security
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Transportation projects receiving assistance must be consistent with the metropolitan planning organization's transportation plan
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Governmental entities receiving financial assistance may issue revenue bonds to repay the assistance, with bonds maturing no more than 50 years after issuance
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Borrowed funds must be segregated from other governmental entity funds and used only for transportation project purposes; the authority may require entities to levy taxes or charges to ensure repayment of obligations
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
Referred to Transportation
3/6/2025