Bill Amendment: TX HB2219 | 2021-2022 | 87th Legislature

NOTE: For additional amemendments please see the Bill Drafting List

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Bill Title: Relating to the issuance of Texas Mobility Fund obligations.

Status: 2021-06-18 - Effective immediately [HB2219 Detail]

Download: Texas-2021-HB2219-Senate_Amendment_S_2_F2-Nichols.html

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Amend HB 2219 (senate committee report) as follows:

(1)  In the recital to SECTION 1 of the bill (page 1, line 22), strike "Section 201.943(a), Transportation Code, is" and substitute "Sections 201.943(a) and (d), Transportation Code, are".

(2)  In SECTION 1 of the bill, immediately following amended Section 201.943(a), Transportation Code (page 1, between lines 34 and 35), insert the following:

(d)  Obligations may be issued for one or more of the following purposes:

(1)  to pay all or part of the costs of constructing, reconstructing, acquiring, and expanding state highways, including any necessary design and acquisition of rights-of-way, in the manner and locations determined by the commission that, according to conclusive findings of the commission, have an expected useful life, without material repair, of not less than 10 years;

(2)  to provide participation by the state in the payment of part of the costs of constructing and providing [publicly owned toll roads and other] public transportation projects that are determined by the commission to be in the best interests of the state in its major goal of improving the mobility of the residents of the state;

(3)  to create debt service reserve accounts;

(4)  to pay interest on obligations for a period of not longer than two years;

(5)  to refund or cancel outstanding obligations; and

(6)  to pay the commission's costs of issuance.