H.B. No. 2134




AN ACT

relating to the administration of the state infrastructure bank.              
	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:                        
	SECTION 1.  Section 222.072(b), Transportation Code, is 
amended to read as follows:
	(b)  Federal funds received by the state under the federal 
act, matching state funds in an amount required by that act, 
proceeds from bonds issued under Section 222.075, [money saved as a 
result of contracting with a private entity for maintenance and 
repair services for department vehicles,] secondary funds, other 
state funds deposited into the bank by order of the commission, and 
other money received by the state that is eligible for deposit in 
the bank may be deposited into the bank and used only for the 
purposes described in this subchapter.
	SECTION 2.  Section 222.073, Transportation Code, is amended 
to read as follows:
	Sec. 222.073.  PURPOSES OF INFRASTRUCTURE BANK. 
Notwithstanding Section 222.001, the [The] commission shall use 
money deposited in the bank to:
		(1)  encourage public and private investment in 
transportation facilities both within and outside of the state 
highway system, including facilities that contribute to the 
multimodal and intermodal transportation capabilities of the 
state; and
		(2)  develop financing techniques designed to:                                
			(A)  expand the availability of funding for 
transportation projects and to reduce direct state costs;
			(B)  maximize private and local participation in 
financing projects; and   
			(C)  improve the efficiency of the state 
transportation system.            
	SECTION 3.  Section 222.074, Transportation Code, is amended 
by adding Subsection (c) to read as follows:
	(c)  Financial assistance to a public or private entity under 
Subsection (a) shall be limited, as applicable, to a qualified 
project that is consistent with the transportation plan developed 
by the metropolitan planning organization.
	SECTION 4.  Section 222.076, Transportation Code, is amended 
to read as follows:
	Sec. 222.076.  SEPARATE SUBACCOUNTS. (a) The bank shall 
consist of at least two separate subaccounts, a highway subaccount 
and a transit subaccount.
	(b)  In addition to the subaccounts under Subsection (a), the 
commission may create one or more subaccounts that are capitalized 
with state funds only. Subaccounts capitalized with state funds 
only are not subject to the federal act.
	SECTION 5.  Sections 222.077(a) and (c), Transportation 
Code, are amended to read as follows:
	(a)  Any funds disbursed through the state infrastructure 
bank must be repaid on terms determined by the commission. The terms 
must [that] comply with the federal act except for terms applicable 
to funds deposited in a subaccount described by Section 222.076(b).
	(c)  The commission shall administer the bank in compliance 
with applicable requirements of the federal act and any applicable 
federal regulation or guideline.
	SECTION 6.  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, 2005.




______________________________              ______________________________
 
   President of the Senate                               Speaker of the House      

	I certify that H.B. No. 2134 was passed by the House on April 
20, 2005, by the following vote:  Yeas 142, Nays 0, 1 present, not 
voting.

                                                  ______________________________
                                                     Chief Clerk of the House   

	I certify that H.B. No. 2134 was passed by the Senate on May 
25, 2005, by the following vote:  Yeas 31, Nays 0.

                                                  ______________________________
                                                     Secretary of the Senate    



APPROVED:  _____________________                                            
 
                   Date                                                      




 
          _____________________                                          
 
                 Governor