The bill, S.B. No. 66, amends the Transportation Code to enhance the powers of regional transportation authorities, particularly regarding the management and allocation of sales and use tax revenues. A new section, 452.204, establishes a General Mobility Program that allows a unit of election within an authority to enter into agreements with a subregional board to allocate up to 25% of its sales and use tax revenue for various mobility projects, including the construction and maintenance of roads, sidewalks, and traffic control improvements. The bill also stipulates that 50% of the allocated funds will be available at the start of the fiscal year, while the remaining 50% will be accessible on a reimbursement basis.

Additionally, the bill modifies existing provisions related to the pledging of revenue for bond security and the use of excess revenue. It specifies that authorities may pledge no more than 75% of the revenue from imposed taxes and introduces a requirement for excess revenue to be used for operational expenses, reserves, and the newly established General Mobility Program. The bill also revises the frequency of elections for withdrawal from the authority and introduces a new section that restricts the issuance of financial obligations by the authority under certain conditions related to unit elections. Overall, these changes aim to provide regional transportation authorities with greater flexibility and resources to improve mobility infrastructure.

Statutes affected:
Introduced: Transportation Code 452.357, Transportation Code 452.358, Transportation Code 452.651 (Transportation Code 452)