Bill Text: TX SB978 | 2017-2018 | 85th Legislature | Introduced
Bill Title: Relating to the filing of a bond by a private high-speed rail operator with the Texas Department of Transportation.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2017-03-06 - Referred to Transportation [SB978 Detail]
Download: Texas-2017-SB978-Introduced.html
| 85R3631 JTS-D | ||
| By: Schwertner | S.B. No. 978 | |
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| relating to the filing of a bond by a private high-speed rail | ||
| operator with the Texas Department of Transportation. | ||
| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
| SECTION 1. Subchapter B, Chapter 112, Transportation Code, | ||
| is amended by adding Section 112.063 to read as follows: | ||
| Sec. 112.063. BOND FOR RESTORATION OF REAL PROPERTY USED BY | ||
| PRIVATE HIGH-SPEED RAIL OPERATOR. (a) In this section, "high-speed | ||
| rail service" means intercity passenger rail service that is | ||
| reasonably expected to reach speeds of at least 110 miles per hour. | ||
| (b) Before a private entity begins operation of high-speed | ||
| rail service, including the extension of an existing service, the | ||
| entity must file with the department a bond in an amount determined | ||
| by the commission to be sufficient to restore real property used for | ||
| the service to its original condition if the service ceases | ||
| operation. | ||
| SECTION 2. This Act takes effect September 1, 2017. | ||
