The bill, S.B. No. 1384, amends the Transportation Code to enhance the financial assistance capabilities of regional mobility authorities for transportation projects undertaken by governmental entities within their jurisdiction. It allows these authorities to provide financial assistance through various means, including direct loans, credit enhancements, and interest rate subsidies, specifically for toll or toll-free transportation projects. The bill introduces a new section, 370.1745, which outlines the types of financial assistance that can be offered and establishes guidelines for governmental entities to borrow money from the authority, ensuring that funds are used solely for transportation-related purposes.

Additionally, the bill permits governmental entities receiving financial assistance to issue revenue bonds for repayment without adhering to other bond issuance laws, while still complying with certain provisions of the Government Code. It specifies the characteristics and requirements for these revenue bonds, including their approval process by the attorney general and registration by the comptroller. The bill is set to take effect on September 1, 2025, thereby providing regional mobility authorities with expanded tools to support local transportation initiatives.

Statutes affected:
Introduced: Transportation Code 370.174 (Transportation Code 370)