Bill Text: TX HB1724 | 2011-2012 | 82nd Legislature | Comm Sub
Bill Title: Relating to economically driven mobility projects.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2011-04-20 - Committee report sent to Calendars [HB1724 Detail]
Download: Texas-2011-HB1724-Comm_Sub.html
| 82R20907 JTS-D | |||
| By: Hamilton | H.B. No. 1724 | ||
| Substitute the following for H.B. No. 1724: | |||
| By: Phillips | C.S.H.B. No. 1724 | ||
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| relating to economically driven mobility projects. | ||
| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
| SECTION 1. Subchapter M, Chapter 201, Transportation Code, | ||
| is amended by adding Section 201.948 to read as follows: | ||
| Sec. 201.948. ECONOMICALLY DRIVEN MOBILITY PROJECT | ||
| ACCOUNT. (a) The economically driven mobility project account is | ||
| an account in the fund. The account consists of revenue received | ||
| from projects financed under this section and proceeds from | ||
| obligations secured by revenue received from those projects. Money | ||
| in the account may be used only to finance projects authorized under | ||
| Section 201.943(d) and selected as economically driven using the | ||
| process and criteria developed under this section. | ||
| (b) The department by rule shall develop a process and | ||
| criteria for project review and selection using established | ||
| economic principles for evaluating projects. | ||
| (c) The review process must evaluate projects based on | ||
| established commercial economic development standards for | ||
| evaluating the return on investment. | ||
| (d) Project selection criteria must prioritize projects | ||
| that: | ||
| (1) promote economic development, including by | ||
| creating employment and cash flow; | ||
| (2) have sustainable economic value; and | ||
| (3) enhance mobility and connectivity as opposed to | ||
| promoting isolated projects. | ||
| (e) The department shall develop a project application | ||
| process for local transportation planning entities, including | ||
| municipalities, counties, metropolitan planning organizations, | ||
| toll project entities as defined by Section 372.001, and public | ||
| transportation entities under Subtitle K, to identify projects | ||
| suitable for funding under this section. | ||
| (f) The department may contract with local governments or | ||
| private entities for the construction of selected projects, | ||
| including construction through pass-through toll agreements under | ||
| Section 222.104, or may construct projects itself. | ||
| (g) Revenue from projects financed under this section must | ||
| be deposited to the credit of the economically driven mobility | ||
| project account. The department may contract with local | ||
| governments or directly with private entities, including property | ||
| owners, who will benefit from a selected project to recover amounts | ||
| sufficient to cover the cost of the project and any associated debt | ||
| service for the project. Revenue may include: | ||
| (1) payments under a project cost participation | ||
| agreement with a local government or private entity; | ||
| (2) tax increment recovered from a transportation | ||
| reinvestment zone; and | ||
| (3) other revenue derived from the increase of value | ||
| attributable to a project financed under this section. | ||
| (h) Motor fuels tax revenue may not be used for the | ||
| development of a project under this section. | ||
| SECTION 2. The Texas Department of Transportation shall | ||
| establish the process and criteria for the selection of | ||
| economically driven mobility projects as required by Section | ||
| 201.948, Transportation Code, as added by this Act, not later than | ||
| September 1, 2012. | ||
| SECTION 3. This Act takes effect September 1, 2011. | ||
