Bill Text: TX HB366 | 2023-2024 | 88th 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) 2023-02-23 - Referred to Transportation [HB366 Detail]
Download: Texas-2023-HB366-Introduced.html
88R1983 DRS-D | ||
By: Bell of Montgomery | H.B. No. 366 |
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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" has the meaning assigned by Section 112.201. | ||
(b) Before a private entity begins operation of high-speed | ||
rail, 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, 2023. |