This bill, proposed by Campbell, relates to how money in the state highway fund can be used for toll projects. It specifies how taxes collected from gasoline sales, automobile registration fees, and other sources should be allocated to fund the construction, maintenance, and improvement of public roads, excluding toll roads, in Texas.
Here is the breakdown of the key sections:
- Section 1: Specifies the allocation of gasoline tax between school fund, state highway fund, and county/road district highway fund.
- Section 2: Authorizes the use of state highway fund for public road construction and establishing a system of state highways.
- Section 3: States that automobile registration fees in the state highway fund should be used for maintaining state highways, other than toll roads.
- Section 4: Prohibits the appropriation of money from the state highway fund for toll projects or systems.
- Sections 5-7: Provide guidelines on the use of state highway fund for department functions, bond issuance, and surplus revenue of toll projects.
- Sections 8-10: Detail the sources of payment and security for toll revenue bonds issued by the commission.
- Sections 11-13: Outline the permissible sources of funding for authorities to use for projects, including turnpike and transit systems.
- Section 14: Repeals certain sections of the Transportation Code.
- Section 15: Ensures that existing bond resolutions or agreements are not affected by the changes in this Act.
- Section 16: Specifies the effective date of the Act as September 1, 2017.