Bill Text: TX HB3812 | 2023-2024 | 88th Legislature | Introduced
Bill Title: Relating to the establishment and use of the Texas Infrastructure Fund.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2023-03-20 - Referred to State Affairs [HB3812 Detail]
Download: Texas-2023-HB3812-Introduced.html
88R8154 KJE-D | ||
By: Jetton | H.B. No. 3812 |
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relating to the establishment and use of the Texas Infrastructure | ||
Fund. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Chapter 403, Government Code, is amended by | ||
adding Subchapter U to read as follows: | ||
SUBCHAPTER U. TEXAS INFRASTRUCTURE FUND | ||
Sec. 403.651. DEFINITION. In this subchapter, "fund" means | ||
the Texas Infrastructure Fund. | ||
Sec. 403.652. TEXAS INFRASTRUCTURE FUND. (a) The Texas | ||
Infrastructure Fund is established as a fund in the state treasury | ||
outside the general revenue fund. | ||
(b) The fund consists of: | ||
(1) money appropriated to the credit of the fund; and | ||
(2) the interest and other earnings attributable to | ||
the investment of money in the fund. | ||
(c) Money in the fund may be appropriated only to the | ||
comptroller for the purpose of awarding grants to public or private | ||
entities for infrastructure projects under this subchapter, | ||
including infrastructure projects involving: | ||
(1) water, ports, or other marine infrastructure; | ||
(2) broadband; | ||
(3) highways, toll roads, or bridges; | ||
(4) aviation; | ||
(5) rail; or | ||
(6) other transit infrastructure. | ||
Sec. 403.653. OVERSIGHT COMMITTEE. (a) The comptroller | ||
shall establish an oversight committee to make recommendations to | ||
the comptroller regarding the awarding of grants from money | ||
appropriated from the fund. | ||
(b) The oversight committee is composed of the following | ||
seven members: | ||
(1) the governor or the governor's designee; | ||
(2) the lieutenant governor or the lieutenant | ||
governor's designee; | ||
(3) the speaker of the house of representatives or the | ||
speaker's designee; | ||
(4) the commissioner of the General Land Office or the | ||
commissioner's designee; | ||
(5) the comptroller or the comptroller's designee; | ||
(6) the executive director of the Texas Department of | ||
Transportation or the executive director's designee; and | ||
(7) the chief financial officer of the Texas | ||
Department of Transportation or the officer's designee. | ||
Sec. 403.654. AWARD OF GRANTS. To the extent practicable, | ||
the comptroller shall award grants from money appropriated from the | ||
fund in a manner that: | ||
(1) takes into account the recommendations made to the | ||
comptroller by the oversight committee under Section 403.653; | ||
(2) ensures that the amount awarded for a specific | ||
type of infrastructure project does not exceed 50 percent of the | ||
amount appropriated from the fund; and | ||
(3) promotes and supports public-private partnerships | ||
that the comptroller determines: | ||
(A) are financially viable; | ||
(B) will diversify the methods of financing | ||
available for infrastructure projects; and | ||
(C) will reduce reliance on the issuance of | ||
general obligation bonds supported with state general revenue. | ||
Sec. 403.655. RULES. (a) The comptroller shall adopt rules | ||
regarding the awarding of grants from money appropriated from the | ||
fund, including rules regarding: | ||
(1) eligibility criteria for grant applicants; | ||
(2) grant application procedures; | ||
(3) criteria for evaluating grant applications and | ||
awarding grants; | ||
(4) guidelines related to grant amounts; and | ||
(5) procedures for monitoring the use of a grant and | ||
ensuring compliance with any conditions of the grant. | ||
(b) The rules adopted under Subsection (a) may include rules | ||
requiring a grantee to provide matching funds as a condition of the | ||
grant. | ||
SECTION 2. This Act takes effect September 1, 2023. |