H.B. No. 2876 proposes an amendment to the Transportation Code, specifically Section 223.208, to facilitate the extension of a comprehensive development agreement for a portion of State Highway 130. The bill allows the Texas Department of Transportation to amend agreements made before March 22, 2007, extending their terms by up to 20 years, provided that the amendment outlines the public benefits and requires the private participant to offer consideration as agreed upon. Additionally, any funds received from this consideration must be allocated for nontolled transportation projects in the relevant counties, with the requirement that these projects receive county approval before funds are spent.

Furthermore, the bill mandates that by December 1, 2026, the department must report on the implementation of the amendment to the comprehensive development agreement to the presiding officers of the relevant legislative committees. This reporting requirement will expire on September 1, 2027. The act is set to take effect on September 1, 2025.

Statutes affected:
Introduced: Transportation Code 223.208 (Transportation Code 223)
House Committee Report: Transportation Code 223.208 (Transportation Code 223)
Engrossed: Transportation Code 223.208 (Transportation Code 223)