TX SB1557

Municipalities within regional transportation authorities governed by a subregional board must enter agreements allowing up to 25% of the authority's sales and use tax collected in that municipality to fund a "general mobility program" for sidewalks, trails, roads, bridges, streetlights, traffic signals, and drainage improvements

Limits regional transportation authorities to pledging no more than 75% of tax revenue to secure bonds, down from the previous allowance of "all or part" of revenue

Eliminates the one percent sales and use tax rate option for regional transportation authorities, capping the maximum rate at three-quarters of one percent for new tax impositions

Changes withdrawal election frequency for units within single-subregion authorities from once every six years to once every three years

Prohibits authorities from issuing new bonds or obligations after receiving a withdrawal election notice if the issuance would increase the withdrawing unit's financial obligation