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Texas Transportation Code - TRANSP § 228.012. Project Subaccounts

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) The department shall create a separate account in the state highway fund to hold payments received by the department under a comprehensive development agreement and the surplus revenue of a toll project or system. The department shall create subaccounts in the account for each project, system, or region. Interest earned on money in a subaccount shall be deposited to the credit of that subaccount.

(b) The department shall hold money in a subaccount in trust for the benefit of the region in which a project or system is located and may assign the responsibility for allocating money in a subaccount to a metropolitan planning organization in which the region is located for projects approved by the department. At the time the project is approved by the department money shall be allocated and distributed to projects authorized by Section 228.0055 or Section 228.006, as applicable.

(c) Repealed by Acts 2021, 87th Leg., ch. 856 (S.B. 800), § 25(18).

(d) The commission or the department may not:

(1) revise the formula as provided in the department's unified transportation program or a successor document in a manner that results in a decrease of a department district's allocation because of the deposit of a payment into a project subaccount; or

(2) take any other action that would reduce funding allocated to a department district because of the deposit of a payment into a project subaccount.

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Cite this article: FindLaw.com - Texas Transportation Code - TRANSP § 228.012. Project Subaccounts - last updated January 01, 2024 | https://codes.findlaw.com/tx/transportation-code/transp-sect-228-012/

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