The bill amends the Transportation Code to streamline the approval process for surety bonds related to contracts that authorize oversize or overweight vehicles to cross roads or highways. Specifically, it updates the requirements for executing a surety bond, stating that the bond must be approved by the Texas Department of Transportation instead of the comptroller and the attorney general. This change is reflected in the amendments to Sections 623.051(d) and 623.052(b), which clarify that the bond must be conditioned on fulfilling the obligations of the contract and indemnifying the Texas Department of Transportation for maintenance and repair costs.

Additionally, the bill specifies that the changes in law will only apply to the approval of surety bonds that occur on or after the effective date of the Act. The Act is set to take effect immediately upon receiving a two-thirds vote from both houses of the legislature, or on September 1, 2025, if such a vote is not achieved.

Statutes affected:
Introduced: Transportation Code 623.051, Transportation Code 623.052 (Transportation Code 623)