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Relating to the funding of certain ship channel improvements;
authorizing the Texas Transportation Commission to issue revenue bonds.
No significant fiscal implication to the State is anticipated.
The ship channel improvement revolving fund was created to provide funding for infrastructure improvement to Texas waterways. HB 3850 would allow the Texas Transportation Commission to issue revenue bonds for the purpose of providing money for the fund. It would also change the purpose of the revolving loan program from financing qualified projects for navigation district to enhancing the financing capabilities of entities responsible for the local share of qualified projects by providing revenue or security for low-interest loans, longer repayment terms, and flexible loan repayment terms.
Texas Action remains neutral on HB 3850 because it does not affect our liberty principles.
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