The bill 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. Specifically, it updates the requirements for executing a surety bond by removing the need for approval from the comptroller and the attorney general, instead designating the Texas Department of Transportation as the sole approving authority. This change is reflected in the amendments to Sections 623.051(d) and 623.052(b), where the language is modified to specify that the bond must be approved by the Texas Department of Transportation.

Additionally, the bill clarifies that the surety bond must be executed with a corporate surety authorized to operate in Texas and must be conditioned on fulfilling the obligations of the contract. The changes made by this Act will only apply to surety bond approvals occurring on or after its effective date. The bill is set to take effect immediately upon receiving a two-thirds vote from both houses of the legislature or on September 1, 2025, if such a vote is not achieved.

Statutes affected:
Introduced: Transportation Code 623.051, Transportation Code 623.052 (Transportation Code 623)