S.B. No. 995 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. 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 the amendments to Sections 623.051(d) and 623.052(b), which now require that the bond be conditioned on the person fulfilling the obligations of the contract and indemnifying the Texas Department of Transportation for maintenance and repair costs.

The bill clarifies that these changes apply only to the approval of surety bonds on or after the effective date of the Act. It is set to take effect immediately if it receives a two-thirds vote from both houses of the legislature; otherwise, it will take effect on September 1, 2025. The bill passed both the Senate and the House with significant support, indicating a strong legislative consensus on the need for these adjustments.

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)
House Committee Report: Transportation Code 623.051, Transportation Code 623.052 (Transportation Code 623)
Enrolled: Transportation Code 623.051, Transportation Code 623.052 (Transportation Code 623)