TX SB3032

Renames the "Sabine Pass Port Authority" to "Port of Sabine Pass" throughout the governing statute

Changes commissioner terms from two-year to four-year staggered terms, with elections held on the uniform election date in May of even-numbered years instead of annually

Increases commissioner compensation from a maximum of $50 per day of service to a flat $600 per month

Expands permitted uses of port property to include job creation, economic development, industry, commerce, manufacturing, housing, recreation, and infrastructure installation, though bonds payable from ad valorem taxes cannot finance these projects

Allows the port to pledge contract payments, including payments in lieu of taxes under tax abatement agreements, as security for bond principal and interest payments

Updates purchasing and contracting authority to follow Water Code provisions (Subchapters N and O, Chapter 60) rather than the previous $25,000 competitive bidding threshold