The bill, H.B. No. 2948, proposes amendments to the Transportation Code regarding the cessation of tolls by toll project entities under specific conditions. It establishes that a toll project will become part of the state highway system and will be maintained without tolls once the costs of acquisition and construction have been fully paid, and either all bonds and interest have been settled or sufficient funds for their payment have been set aside in a trust fund. Additionally, the bill prohibits toll project entities from amending financing agreements in a way that would delay this transition to the state highway system.

Key amendments include the removal of references to surplus revenue from toll projects in various sections, which clarifies the financial management of toll revenues. The bill also introduces new provisions that outline the conditions under which tolls can cease, emphasizing the importance of bond repayment and financial accountability. Furthermore, several sections of the Transportation Code are repealed to streamline the regulations surrounding toll projects. The bill is set to take effect immediately upon receiving a two-thirds vote from both houses or on September 1, 2025, if that threshold is not met.

Statutes affected:
Introduced: Transportation Code 228.012, Transportation Code 228.0055, Transportation Code 228.104, Transportation Code 228.105, Transportation Code 366.113, Transportation Code 370.113, Transportation Code 372.0535, Transportation Code 373.003 (Transportation Code 366, Transportation Code 228, Transportation Code 372, Transportation Code 370, Transportation Code 373)