S.B. No. 3032 proposes a rebranding of the Sabine Pass Port Authority to the "Port of Sabine Pass" and introduces significant changes to its governance and operational structure. The bill extends the term of the commission from two years to four years, with elections scheduled for even-numbered years. It clarifies definitions related to the port and emphasizes the public benefit of its operations. Additionally, the bill allows for the use of port property for economic and community development, expands the authority's ability to issue bonds, and removes the requirement for competitive bidding on contracts exceeding $25,000.

The legislation also details the management of bond issuance, specifying that bonds must be issued in the port's name and signed by the commission's presiding officer. It outlines the terms for bond sales and the securing of bond payments through various revenue sources. The bill establishes a timeline for the election of five commissioners in May 2026 and includes provisions for compliance with legal notice requirements. The changes are set to take effect on September 1, 2025, aiming to enhance the operational efficiency and economic impact of the Port of Sabine Pass.

Statutes affected:
Introduced: Special District Local Laws Code 5012.0001, Special District Local Laws Code 5012.0051, Special District Local Laws Code 5012.0055, Special District Local Laws Code 5012.0056, Special District Local Laws Code 5012.0057, Special District Local Laws Code 5012.0058, Special District Local Laws Code 5012.0105, Special District Local Laws Code 5012.0109, Special District Local Laws Code 5012.0110, Special District Local Laws Code 5012.0152, Special District Local Laws Code 5012.0153, Special District Local Laws Code 5012.0154, Special District Local Laws Code 5012.0201, Special District Local Laws Code 5012.0206, Special District Local Laws Code 5012.0207 (Special District Local Laws Code 5012)