Texas § TN.228.0055 - USE OF CONTRACT PAYMENTS AND OTHER REVENUE

§ TN.228.0055. USE OF CONTRACT PAYMENTS AND OTHER REVENUE

USE OF CONTRACT PAYMENTS AND OTHER REVENUE. (a) Payments, project savings, refinancing dividends, and any other revenue received by the commission or the department under a comprehensive development agreement shall be used by the commission or the department to finance the construction, maintenance, or operation of transportation projects or air quality projects in the region. (b) The department shall allocate the distribution of funds to department districts in the region that are located in the boundaries of the metropolitan planning organization in which the project that is the subject of the comprehensive development agreement is located based on the percentage of toll revenue from users from each department district of the project. To assist the department in determining the allocation, each entity responsible for collecting tolls for a project shall calculate on an annual basis the percentage of toll revenue from users of the project from each department district based on the number of recorded electronic toll collections. (c) The commission or the department may not: (1) revise the formula as provided in the department's unified transportation program, or its successor document, in a manner that results in a decrease of a department district's allocation because of a payment under Subsection (a); or (2) take any other action that would reduce funding allocated to a department district because of payments received under a comprehensive development agreement. (d) A metropolitan planning organization may not take any action that would reduce distribution of funds or other resources to a department district because of the use of a payment or other revenue under Subsection (a). Added by Acts 2005, 79th Leg., Ch. 281 (H.B. 2702 ), Sec. 2.35, eff. June 14, 2005. Amended by: Acts 2007, 80th Leg., R.S., Ch. 264 (S.B. 792 ), Sec. 6.01, eff. June 11, 2007.