S.B. No. 1384 aims to enhance the financial assistance capabilities of regional mobility authorities for transportation projects undertaken by governmental entities within their jurisdictions. The bill amends Section 370.174(b) of the Transportation Code to allow authorities to assist in financing toll or toll-free transportation projects by providing financial assistance as outlined in the newly added Section 370.1745. This section specifies various methods of financial assistance, including extending credit through direct loans, providing credit enhancements, and subsidizing interest rates, among others. It also establishes that financial assistance must align with the transportation plans developed by metropolitan planning organizations.

Additionally, the bill allows governmental entities authorized to construct transportation projects to borrow money from the authority, with stipulations that the borrowed funds must be used solely for transportation-related purposes. It provides a streamlined process for these entities to issue revenue bonds for repaying the assistance without adhering to other bond issuance laws, while still ensuring compliance with certain chapters of the Government Code. The bill is set to take effect on September 1, 2025.

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