House Bill No. 4888 aims to enhance the financial capabilities of regional mobility authorities in Texas by allowing them to provide financial assistance for transportation projects undertaken by governmental entities within their jurisdiction. The bill amends Section 370.174(b) of the Transportation Code to include provisions for assisting in the financing of toll or toll-free transportation projects, specifically by inserting new language that allows authorities to provide financial assistance as outlined in the newly added Section 370.1745. This section details various methods of financial assistance, including extending credit, providing credit enhancements, and subsidizing interest rates, among others.

Additionally, the bill establishes that governmental entities authorized to construct or finance transportation projects may borrow money from the authority, with specific stipulations regarding the use of borrowed funds and the issuance of revenue bonds. The new provisions clarify that revenue bonds issued under this section do not require compliance with other laws governing bond issuance, although they must still adhere to certain chapters of the Government Code. 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)