H.B. No. 2003 amends the Transportation Code by adding Section 111.059, which mandates that entities proposing high-speed rail projects in Texas must submit detailed information to the Texas Department of Transportation (TxDOT) annually, as long as the project is included in the Texas Rail Plan. This information includes the proposed financing methods, recent balance sheets, cost projections, construction timelines, ridership projections, proposed routes, management organization charts, and disclosures of any foreign investments in the project. The bill defines "high-speed rail" according to Section 112.201 and requires TxDOT to make this information publicly available on its website.

The bill is set to take effect on September 1, 2025, following its passage in both the House and Senate. The House approved the bill with a vote of 127-0, while the Senate passed it with a vote of 22-9. This legislation aims to enhance transparency and accountability in the planning and financing of high-speed rail projects in Texas.

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