Texas HB 1054: Relating to the filing of a bond by a private high-speed rail operator with the Texas Department of Transportation.

Status: Referred to Transportation (as of 2021-03-04)

State: Texas · Session: 87 · Bill: HB 1054

Subjects: BONDS (S6060), Property Interests--Real Property (I0595), TRANSPORTATION, TEXAS DEPARTMENT OF (V8796), Transportation--Mass Transit (I0823), Transportation--Railroads (I0821)

Sponsors: Bell, Cecil, Metcalf, Schaefer

Bill Text

By:AABell of Montgomery H.B.ANo.A1054
A BILL TO BE ENTITLED
AN ACT
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:
SECTIONA1.AASubchapter B, Chapter 112, Transportation Code,
is amended by adding Section 112.063 to read as follows:
Sec.A112.063.AABOND 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)AABefore 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.
SECTIONA2.AAThis Act takes effect September 1, 2021.
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