S.B. No. 995 amends the Transportation Code regarding the approval process for surety bonds related to contracts that allow oversize or overweight vehicles to cross roads or highways. The bill specifies that the surety bond must be approved by the Texas Department of Transportation, replacing the previous requirement for approval by the comptroller and the attorney general. This change is reflected in both Section 623.051(d) and Section 623.052(b) of the Transportation Code, where the language has been updated to streamline the approval process and ensure that the Texas Department of Transportation is the sole authority for bond approval.

Additionally, the bill stipulates that the surety bond must be conditioned on the person fulfilling the obligations of the contract, ensuring accountability for maintenance and repair costs associated with the vehicle crossings. The provisions of this Act will apply only to surety bond approvals occurring on or after its effective date, which will be immediate if it receives a two-thirds vote from both houses of the legislature; otherwise, it will take effect on September 1, 2025.

Statutes affected:
Introduced: Transportation Code 623.051, Transportation Code 623.052 (Transportation Code 623)
Senate Committee Report: Transportation Code 623.051, Transportation Code 623.052 (Transportation Code 623)
Engrossed: Transportation Code 623.051, Transportation Code 623.052 (Transportation Code 623)