Bill Text: TX HB3789 | 2011-2012 | 82nd Legislature | Introduced
Bill Title: Relating to the development of toll projects through public-private partnerships.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2011-03-30 - No action taken in committee [HB3789 Detail]
Download: Texas-2011-HB3789-Introduced.html
By: Phillips | H.B. No. 3789 |
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relating to the development of toll projects through public-private | ||
partnerships. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Subtitle G, Title 6, Transportation Code, is | ||
amended by adding Chapter 373 to read as follows: | ||
CHAPTER 373. PUBLIC-PRIVATE PARTNERSHIPS FOR TOLL PROJECTS | ||
SUBCHAPTER A. GENERAL PROVISIONS | ||
Sec. 373.001. DEFINITIONS. In this chapter: | ||
(1) "Public-private partnership" means a contractual | ||
agreement between a toll project entity and a private entity that | ||
provides for private sector participation in the design, | ||
construction, financing, operation, and maintenance of a toll | ||
project under this chapter. | ||
(2) "Toll project" means one or more tolled lanes of a | ||
highway or an entire toll highway and any improvement, extension, | ||
or expansion to the highway, including: | ||
(a) a facility to relieve traffic congestion and | ||
promote safety; | ||
(b) a bridge, tunnel, overpass, underpass, | ||
interchange, entrance plaza, approach, toll booth, toll plaza, | ||
service road, ramp, or service center; | ||
(c) an administration, storage, or other building, | ||
operations center, maintenance or other facility, equipment, or | ||
system the toll project entity considers necessary to operate the | ||
project; | ||
(d) property rights, easements, and interests the toll | ||
project entity acquires to construct, maintain, or operate the | ||
project; | ||
(e) a parking area or structure, rest stop, park, and | ||
any other improvement or amenity the toll project entity considers | ||
necessary, useful, or beneficial for the operation and maintenance | ||
of the project; and | ||
(f) a nontolled facility that is appurtenant to and | ||
necessary for the efficient operation and maintenance of the | ||
project, including a connector, service road, access road, ramp, | ||
interchange, bridge, or tunnel. | ||
(3) "Toll project entity" means an entity authorized by law | ||
to acquire, design, construct, finance, operate, and maintain a | ||
toll project, including: | ||
(a) the department under Chapter 228; | ||
(b) a regional tollway authority under Chapter 366; | ||
(c) a regional mobility authority under Chapter 370; | ||
or | ||
(d) a county under Chapter 284. | ||
(Sections 373.002-373.050 reserved for expansion) | ||
SUBCHAPTER B. PUBLIC-PRIVATE PARTNERSHIPS | ||
Sec. 373.051. PUBLIC-PRIVATE PARTNERSHIPS AUTHORIZED. (a) | ||
A toll project entity may enter into a public-private partnership | ||
that provides for the design, development, financing, | ||
construction, maintenance, repair, operation, extension, or | ||
expansion of a toll project. | ||
(b) A regional tollway authority, a regional mobility | ||
authority, or a county under Chapter 284 may not enter into a | ||
public-private partnership pursuant to this chapter for a toll | ||
project that extends beyond the boundaries of the toll project | ||
entity and any counties adjacent to the toll project entity. | ||
(c) The department may not enter into a public-private | ||
partnership pursuant to this chapter for a toll project that | ||
extends beyond the boundaries of a department district and any | ||
counties adjacent to the district. | ||
(d) A toll project entity may negotiate provisions relating | ||
to professional and consulting services provided in connection with | ||
a public-private partnership authorized by this section. | ||
Sec. 373.052. PROCESS FOR ENTERING INTO PUBLIC-PRIVATE | ||
PARTNERSHIPS. (a) If a toll project entity enters into a public- | ||
private partnership, the toll project entity shall use a | ||
competitive procurement process that provides the best value for | ||
the toll project entity. | ||
(b) A toll project entity shall publish a notice of | ||
availability of a request for qualifications or proposals in | ||
connection with the procurement of a public-private partnership | ||
under this chapter in the Texas Register and shall publish the | ||
request for qualifications or proposals on the toll project | ||
entity's website. | ||
(c) A toll project entity that intends to enter into a | ||
public-private partnership under this chapter shall issue a request | ||
for qualifications that includes: | ||
(1) information regarding the project location, | ||
scope, budget, and schedule; | ||
(2) the criteria to be used to evaluate the responses | ||
and the relative weight given to the criteria; | ||
(3) a deadline by which responses must be received; | ||
and | ||
(4) any other information the toll project entity | ||
considers relevant or necessary. | ||
(d) The toll project entity shall evaluate each response to | ||
the request for qualifications based on the criteria described in | ||
the request for qualifications and may qualify or shortlist private | ||
entities to submit detailed proposals under Subsection (e). The | ||
toll project entity must qualify or shortlist at least two private | ||
entities to submit detailed proposals for a project under | ||
Subsection (e) unless the toll project entity does not receive more | ||
than one proposal or one response to a request under Subsection (c). | ||
(e) The toll project entity shall issue a request for | ||
detailed proposals from all private entities qualified or | ||
shortlisted under Subsection (d) if the toll project entity | ||
proceeds with the further evaluation of a proposed public-private | ||
partnership. A request under this subsection may require | ||
additional information relating to: | ||
(1) the private entity's qualifications and | ||
demonstrated technical competence; | ||
(2) the feasibility of developing the project as | ||
proposed; | ||
(3) engineering or architectural designs; | ||
(4) the private entity's ability to meet schedules; | ||
(5) a financial plan, including costing methodology | ||
and cost proposals; | ||
(6) the information identified in Section 373.059 | ||
concerning the rights of the toll project entity to purchase the | ||
interest of the private entity in the toll project that is the | ||
subject of the public-private partnership; and | ||
(7) any other information the toll project entity | ||
considers relevant or necessary. | ||
(f) A private entity responding to a request for detailed | ||
proposals issued under Subsection (e) may submit alternative | ||
proposals based on public-private partnerships having different | ||
terms, with the alternative terms in multiples of 10 years, ranging | ||
from 10 years from the later of the date of final acceptance of the | ||
project or the start of revenue operations by the private entity to | ||
50 years from the later of the date of final acceptance of the | ||
project or the start of revenue operations by the private entity, | ||
not to exceed a total term of 52 years or any lesser term provided in | ||
a public-private partnership agreement. | ||
(g) In issuing a request for detailed proposals under | ||
Subsection (e), the toll project entity may solicit input from | ||
entities qualified under Subsection (d) or any other person. The | ||
toll project entity may also solicit input regarding alternative | ||
technical concepts after issuing a request under Subsection (e). | ||
(h) The toll project entity shall evaluate each proposal | ||
based on the criteria described in the request for detailed | ||
proposals and select the private entity whose proposal offers the | ||
apparent best value to the toll project entity. | ||
(i) The toll project entity may enter into negotiations with | ||
the private entity whose proposal offers the apparent best value. | ||
(j) If at any point in negotiations under Subsection (i) it | ||
appears to the toll project entity that the highest ranking | ||
proposal will not provide the toll project entity with the overall | ||
best value, the toll project entity may enter into negotiations | ||
with the private entity submitting the next highest ranking | ||
proposal. | ||
(k) The toll project entity may withdraw a request for | ||
qualifications or a request for detailed proposals at any time. The | ||
toll project entity may then publish a new request for | ||
qualifications. | ||
(l) A toll project entity may accept unsolicited proposals | ||
for a proposed public-private partnership. If a toll project | ||
entity accepts an unsolicited proposal pursuant to this subsection, | ||
the toll project entity shall issue a request for competing | ||
proposals and qualifications that includes the information | ||
required by Subsection (c) and shall evaluate those proposals and | ||
qualify or shortlist private entities to submit detailed proposals | ||
consistent with Subsection (d). The toll project entity may | ||
require that an unsolicited proposal be accompanied by a | ||
nonrefundable fee sufficient to cover all or part of its cost to | ||
review the proposal. | ||
(m) The toll project entity may prescribe the general form | ||
of a public-private partnership agreement and may include any | ||
matter the toll project entity considers advantageous to the toll | ||
project entity. The toll project entity and the private entity | ||
shall finalize the specific terms of a public-private partnership. | ||
(n) Notwithstanding the requirements of this section, if a | ||
toll project entity has entered or enters into a comprehensive | ||
development agreement or a public-private partnership for one or | ||
more segments or phases of a toll project, it may enter into a | ||
public-private partnership, one or more facility implementation | ||
agreements, or any other agreement which provides for the design, | ||
construction, financing, acquisition, maintenance, or operation of | ||
any additional segments or phases of the toll project if such | ||
agreement is with the same party that was a party to the previous | ||
comprehensive development agreement or public-private partnership. | ||
No additional process shall be required prior to execution of an | ||
agreement under this subsection provided that the toll project | ||
entity finds that the terms and conditions of such agreement are | ||
fair and reasonable. | ||
(o) Subchapter A of Chapter 223, Transportation Code, and | ||
Chapter 2254, Government Code, do not apply to a public-private | ||
partnership entered into under this chapter. | ||
Sec. 373.053. CONFIDENTIALITY OF INFORMATION. (a) To | ||
encourage private entities to submit proposals under this chapter, | ||
the following information is confidential, is not subject to | ||
disclosure, inspection, or copying under Chapter 552, Government | ||
Code, and is not subject to disclosure, discovery, subpoena, or | ||
other means of legal compulsion for its release until a final | ||
contract for a proposed project is entered into: | ||
(1) all or part of a proposal that is submitted by a | ||
private entity for a public-private partnership, unless the private | ||
entity consents to the disclosure of the information; | ||
(2) supplemental information or material submitted by | ||
a private entity in connection with a proposal for a public-private | ||
partnership, unless the private entity consents to the disclosure | ||
of the information or material; and | ||
(3) information created or collected by the toll | ||
project entity or its agent during consideration of a proposal for a | ||
public-private partnership. | ||
(b) After the toll project entity completes its final | ||
ranking of proposals under Section 373.052(h), the final rankings | ||
of each proposal under each of the published criteria are not | ||
confidential. | ||
Sec. 373.054. PERFORMANCE AND PAYMENT SECURITY. (a) | ||
Notwithstanding Section 223.006, Transportation Code, and the | ||
requirements of Subchapter B, Chapter 2253, Government Code, a toll | ||
project entity shall require a private entity entering into a | ||
public-private partnership under this chapter to provide a | ||
performance and payment bond or an alternative form of security in | ||
an amount sufficient to: | ||
(1) ensure the proper performance of the agreement; | ||
and | ||
(2) protect: | ||
(A) the toll project entity; and | ||
(B) payment bond beneficiaries who have a direct | ||
contractual relationship with the private entity or a subcontractor | ||
of the private entity to supply labor or material. | ||
(b) A performance and payment bond or alternative form of | ||
security shall be in an amount equal to the cost of constructing or | ||
maintaining the toll project. | ||
(c) If the toll project entity determines that it is | ||
impracticable for a private entity to provide security in the | ||
amount described by Subsection (b), the toll project entity shall | ||
set the amount of the bonds or the alternative forms of security. | ||
(d) A payment or performance bond or alternative form of | ||
security is not required for the portion of a public-private | ||
partnership that includes only design or planning services, the | ||
performance of preliminary studies, or the acquisition of real | ||
property. | ||
(e) The amount of the payment security must not be less than | ||
the amount of the performance security. | ||
(f) In addition to or instead of a performance and payment | ||
bond, the toll project entity may require one or more of the | ||
following alternative forms of security: | ||
(1) a cashier's check drawn on a financial entity specified | ||
by the toll project entity; | ||
(2) a United States bond or note; | ||
(3) an irrevocable bank letter of credit; or | ||
(4) any other form of security determined suitable by | ||
the toll project entity. | ||
(g) The toll project entity by rule shall prescribe | ||
requirements for an alternative form of security provided under | ||
this section. | ||
Sec. 373.055. OWNERSHIP OF TOLL PROJECTS. A toll project | ||
that is the subject of a public-private partnership with a private | ||
entity, including the facilities acquired or constructed on the | ||
project, is public property and shall be owned by the toll project | ||
entity or another public entity to which the toll project entity may | ||
transfer the project. | ||
Sec. 373.056. LIABILITY FOR PRIVATE OBLIGATIONS. The toll | ||
project entity may not incur a financial obligation for a private | ||
entity that designs, develops, finances, constructs, maintains, or | ||
operates a toll project under this chapter. The state or a | ||
political subdivision of the state is not liable for any financial | ||
or other obligations of a project solely because a private entity | ||
constructs, finances, or operates any part of the project. | ||
Sec. 373.057. TERMS OF PRIVATE PARTICIPATION. (a) The toll | ||
project entity shall negotiate the terms of private participation | ||
under this chapter, including: | ||
(1) methods to determine the applicable cost, profit, | ||
and project distribution among the private entity and the toll | ||
project entity; | ||
(2) reasonable methods to determine and classify toll | ||
rates and responsibility for the setting of tolls; | ||
(3) acceptable safety and policing standards; and | ||
(4) other applicable professional, consulting, | ||
construction, operation, and maintenance standards, expenses, and | ||
costs. | ||
(b) A public-private partnership entered into under this | ||
chapter must include a provision providing for the purchase by the | ||
toll project entity of the interest of a private entity in the | ||
public-private partnership and related property as required by | ||
Section 373.059 and may include any other provision the toll | ||
project entity considers appropriate. | ||
(c) The toll project entity may enter into a public-private | ||
partnership under this chapter with a private entity only if the | ||
project is identified in the department's unified transportation | ||
program or is located on a transportation corridor identified in | ||
the statewide transportation plan. | ||
(d) Section 373.056 does not apply to the obligations of the | ||
toll project entity under a public-private partnership. | ||
(e) Notwithstanding anything in Section 201.112, | ||
Transportation Code, or other law to the contrary, and subject to | ||
compliance with the dispute resolution procedures set out in the | ||
public-private partnership agreement, an obligation of the toll | ||
project entity under a public-private partnership entered into | ||
under this chapter to make or secure payments to a person because | ||
of the termination of the agreement, including the purchase of the | ||
interest of a private participant or other investor in a project, | ||
may be enforced by mandamus against the toll project entity in a | ||
district court located in a county where all or part of the toll | ||
project entity is located, and the sovereign immunity of the toll | ||
project entity is waived for that purpose. Notwithstanding the | ||
foregoing, the district courts of Travis County shall have | ||
exclusive jurisdiction and venue over and to determine and | ||
adjudicate all issues necessary to adjudicate any action brought | ||
against the commission or the department under this subsection. The | ||
remedy provided by this subsection is in addition to any legal and | ||
equitable remedies that may be available to a party to a | ||
public-private partnership. | ||
(f) If the toll project entity enters into a public-private | ||
partnership with a private entity that includes the collection by | ||
the private entity of tolls for the use of a toll project, the | ||
private entity shall submit to the toll project entity for | ||
approval: | ||
(1) the methodology for: | ||
(A) the setting of tolls; and | ||
(B) increasing the amount of the tolls; | ||
(2) a plan outlining methods the private entity will | ||
use to collect the tolls, including: | ||
(A) any charge to be imposed as a penalty for late | ||
payment of a toll; and | ||
(B) any charge to be imposed to recover the cost | ||
of collecting a delinquent toll; and | ||
(3) any proposed change in an approved methodology for | ||
the setting of a toll or a plan for collecting the toll. | ||
(g) A public-private partnership with a private entity that | ||
includes the collection by the private entity of tolls for the use | ||
of a toll project may be for a term not longer than 50 years from the | ||
later of the date of final acceptance of the project or the start of | ||
revenue operations by the private entity, not to exceed a total | ||
term of 52 years. | ||
Sec. 373.058. PROHIBITION AGAINST LIMITING OR PROHIBITING | ||
CONSTRUCTION OF TRANSPORTATION PROJECTS. (a) A public-private | ||
partnership may not contain a provision that limits or prohibits | ||
the construction, reconstruction, expansion, rehabilitation, | ||
operation, or maintenance of a highway or other transportation | ||
project, as that term is defined by Section 370.003, by the toll | ||
project entity or other governmental entity, or by a private entity | ||
under a contract with the toll project entity or other governmental | ||
entity. | ||
(b) Except as provided by Subsection (c), a public-private | ||
agreement may contain a provision authorizing the toll project | ||
entity to negotiate with the private entity for the loss of toll | ||
revenues attributable to the construction by the toll project | ||
entity of a limited access highway project located within an area | ||
that extends up to four miles from either side of the centerline of | ||
the project developed under the agreement, less the private | ||
entity's decreased operating and maintenance costs attributable to | ||
the highway project, if any. A provision under this section may be | ||
effective only for a period of 30 years or less from the effective | ||
date of the agreement. | ||
(c) A public-private partnership may not require the toll | ||
project entity to provide compensation for the construction of: | ||
(1) a project contained in the state transportation | ||
plan or a transportation plan of a metropolitan planning | ||
organization in effect on the effective date of the public-private | ||
partnership agreement; | ||
(2) work on or improvements to a highway project | ||
necessary for improved safety, or for maintenance or operational | ||
purposes; | ||
(3) a high occupancy vehicle exclusive lane addition | ||
or other work on any highway project that is required by an | ||
environmental regulatory agency; | ||
(4) a transportation project that provides a mode of | ||
transportation that is not included in the project that is the | ||
subject of the public-private partnership; or | ||
(5) a highway designated an interstate highway. | ||
(d) The private entity has the burden of proving any loss of | ||
toll revenue resulting from the construction of a highway project | ||
described by Subsection (b). | ||
(e) A public-private partnership that contains a provision | ||
described by Subsection (b) must require the private entity to | ||
provide compensation to the toll project entity in the amount of | ||
any increase in toll revenues received by the private entity that | ||
is attributable to the construction of a highway project described | ||
by Subsection (b), less the private entity's increased operation | ||
and maintenance costs attributable to the highway project, if any. | ||
Sec. 373.059. TERMINATION BY PURCHASE. (a) A | ||
public-private partnership agreement must contain a provision | ||
authorizing the toll project entity to purchase, under terms | ||
agreed to by the parties: | ||
(1) the interest of a private entity in the toll | ||
project that is the subject of the agreement; and | ||
(2) related property, including any interest in a | ||
highway or other facility designed, developed, financed, | ||
constructed, operated, or maintained under the public-private | ||
partnership agreement. | ||
(b) The provision must include a schedule stating a specific | ||
price for the purchase of the toll project at certain intervals | ||
from the date the project opens, not less than one year and not to | ||
exceed five years, over the term of the public-private partnership | ||
agreement. | ||
(c) The provision must authorize the toll project entity to | ||
purchase the private entity's interest at a stated interval in an | ||
amount not to exceed the lesser of: | ||
(1) the price stated for that interval; or | ||
(2) the then fair market value of the private entity's | ||
interest, provided that the fair market value is not less than the | ||
private entity's outstanding debt at that time, plus reasonable | ||
costs associated with the purchase as defined in the public-private | ||
partnership agreement. | ||
(d) A toll project entity may not, under any circumstance, | ||
purchase the private entity's interest for an amount higher than | ||
the stated interval amount. | ||
(e) A contract provision to purchase the private entity's | ||
interest at the then fair market value as described by Subsection | ||
(c)(2) must contain a provision, mutually agreed on by the toll | ||
project entity and the private entity, detailing the calculation | ||
used to determine that value. | ||
(f) The toll project entity shall request a proposed | ||
termination-by-purchase schedule in each request for detailed | ||
proposals and shall consider and score each schedule in each | ||
evaluation of proposals. | ||
(g) A private entity shall, not later than 12 months before | ||
the date that a new price interval takes effect, notify the toll | ||
project entity of the beginning of the price interval. The toll | ||
project entity must notify the private entity as to whether it will | ||
exercise the option to purchase under this section not later than | ||
six months after the date it receives notice under this subsection. | ||
(h) A toll project entity must notify the private entity of | ||
the toll project entity's intention to purchase the private | ||
entity's interest under this section not less than six months | ||
before the date of the purchase. | ||
Sec. 373.060. TERMINATION OF CERTAIN PUBLIC-PRIVATE | ||
PARTNERSHIPS. (a) If a toll project entity elects to terminate a | ||
public-private partnership under which a private entity receives | ||
the right to operate and collect revenue from a toll project, the | ||
toll project entity may: | ||
(1) issue bonds or other obligations to: | ||
(A) make any applicable termination payments to | ||
the private entity; or | ||
(B) purchase the interest of the private entity | ||
in the toll project or related property; or | ||
(2) provide for the payment of obligations of the | ||
private entity incurred pursuant to the public-private partnership | ||
agreement. | ||
(b) A toll project entity has the same powers and duties | ||
relating to the financing of payments under Subsection (a)(1) as | ||
the toll project entity has under other applicable laws of this | ||
state, including Chapters 228, 284, 366, and 370 of this code and | ||
Chapter 1371, Government Code, relating to the financing of a toll | ||
project of that entity, including the ability to deposit the | ||
proceeds of bonds or other obligations and to pledge, encumber, and | ||
expend the proceeds and revenues of a toll project as provided by | ||
law. | ||
(c) The powers held by the toll project entity include the | ||
power to authorize the issuance of bonds or other obligations and to | ||
pay all or part of the costs of a payment described in Subsection | ||
(a)(1), in the amount determined by the toll project entity. Costs | ||
associated with a payment under Subsection (a)(1) are considered a | ||
cost of the project. | ||
(d) This section shall be liberally construed to effect its | ||
purposes. | ||
Sec. 373.061. ACQUISITION OF PROPERTY. The acquisition of | ||
property for a toll project subject to a public-private partnership | ||
under this chapter shall be subject to all other laws regarding the | ||
acquisition and condemnation of property by the toll project | ||
entity, including Chapter 21, Property Code. | ||
Sec. 373.062. RULES, PROCEDURES, AND GUIDELINES GOVERNING | ||
SELECTION AND NEGOTIATING PROCESS. (a) A toll project entity shall | ||
adopt rules, procedures, and guidelines governing selection of a | ||
private entity for a public-private partnership and negotiations to | ||
promote fairness, obtain private participation in projects, and | ||
promote confidence among private entities. The rules must contain | ||
criteria relating to the qualifications of the participants and | ||
the award of the contracts. | ||
(b) The toll project entity shall have up-to-date | ||
procedures for participation in negotiations under this chapter. | ||
(c) The toll project entity has exclusive judgment to | ||
determine the terms of a public-private partnership. | ||
SECTION 2. Sections 223.201(a) and (b), Transportation | ||
Code, are amended to read as follows: | ||
(a) Subject to Section 223.202, the department may enter | ||
into a comprehensive development agreement with a private entity to | ||
design, develop, finance, construct, |
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extend, or expand a: | ||
(1) toll project; or | ||
(2) |
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both tolled and nontolled lanes and may include nontolled | ||
appurtenant facilities |
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(b) In this subchapter, "comprehensive development | ||
agreement" means an agreement that, at a minimum, provides for the | ||
design and construction, rehabilitation, expansion, or improvement | ||
of a project described in Subsection (a) and may also provide for | ||
the financing |
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described in Subsection (a). | ||
SECTION 3. Section 284.003(a), Transportation Code, is | ||
amended to read as follows: | ||
(a) A county, acting through the commissioners court of the | ||
county, or a local government corporation, without state approval, | ||
supervision, or regulation, may: | ||
(1) construct, acquire, improve, operate, maintain, | ||
or pool a project located: | ||
(A) exclusively in the county; | ||
(B) in the county and outside the county; or | ||
(C) in one or more counties adjacent to the | ||
county; | ||
(2) issue tax bonds, revenue bonds, or combination tax | ||
and revenue bonds to pay the cost of the construction, acquisition, | ||
or improvement of a project; | ||
(3) impose tolls or charges as otherwise authorized by | ||
this chapter; | ||
(4) construct a bridge over a deepwater navigation | ||
channel, if the bridge does not hinder maritime transportation; | ||
(5) construct, acquire, or operate a ferry across a | ||
deepwater navigation channel; | ||
(6) in connection with a project, on adoption of an | ||
order exercise the powers of a regional mobility authority | ||
operating under Chapter 370; or | ||
(7) enter into a comprehensive development agreement | ||
with a private entity to design, develop, finance, construct, | ||
maintain, repair, operate, extend, or expand a proposed or existing | ||
project in the county to the extent and in the manner applicable to | ||
the department under Chapter 223 or to a regional tollway authority | ||
under Chapter 366, provided that a comprehensive development | ||
agreement that provides for the design, construction, and financing | ||
of a toll project and also provides for the acquisition, | ||
maintenance, or operation of the project must comply with the | ||
requirements of Chapter 373, Transportation Code. | ||
SECTION 4. Sections 366.401, Transportation Code, is | ||
amended by adding Subsection (e) to read as follows: | ||
(e) A comprehensive development agreement entered into | ||
pursuant to this subchapter that provides for the design, | ||
construction, and financing of a toll project and also provides for | ||
the acquisition, maintenance, or operation of the project must | ||
comply with the requirements of Chapter 373, Transportation Code. | ||
SECTION 5. Sections 370.305(a) and (b), Transportation | ||
Code, are amended to read as follows: | ||
(a) An authority may use a comprehensive development | ||
agreement with a private entity to construct, |
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(b) A comprehensive development agreement is an agreement | ||
with a private entity that, at a minimum, provides for the design | ||
and construction of a transportation project and may also provide | ||
for the financing |
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transportation project. | ||
SECTION 6. Sections 223.201(f), (h) and (i), Transportation | ||
Code, and Sections 370.305(d), (e) and (f), Transportation Code, | ||
are repealed. | ||
SECTION 7. This Act takes effect immediately if it receives | ||
a vote of two-thirds of all the members elected to each house, as | ||
provided by Section 39, Article III, Texas Constitution. If this | ||
Act does not receive the vote necessary for immediate effect, this | ||
Act takes effect September 1, 2011. |