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 Section 623.051(d) and Section 623.052(b) to require that the surety bond be approved solely by the Texas Department of Transportation, removing the previous requirement for approval by the comptroller and the attorney general. This change aims to simplify the process and ensure that the bond is conditioned on the person fulfilling their contractual obligations.

Additionally, the bill clarifies that the new provisions regarding the approval of surety bonds will only apply to those approved on or after the effective date of the Act. The Act 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)
House Committee Report: Transportation Code 623.051, Transportation Code 623.052 (Transportation Code 623)