Report on the Elimination of Toll Roads
Report on the Elimination of Toll Roads HB 2612, 84th Texas Legislature Provided to: Legislative Budget Board House Committee on Transportation Senate Committee on Transportation September 1, 2016 f Contents Section Page Executive Summary 1 Section 1 – Debt Service on Bonds Issued for Toll Projects 6 Section 2 – Bonds Appropriate for Accelerated or Lump-Sum Payment 12 of Debt Service Section 3 – Plan to Eliminate Toll Roads 16 Appendices Appendix A – Index of Toll Road Bonds A Appendix B – Assumptions Regarding Toll Road Debt Service Analysis B Appendix C – Toll Road Project Actual vs. Projected Traffic C Appendix D – House Bill 2612 D f Executive Summary House Bill 2612, 84th Legislature, Regular Session, 2015, requires the Texas Department of Transportation (TxDOT) to prepare a report on the feasibility of eliminating toll roads in the State of Texas. This report is divided into three sections, which correspond to the requirements of the legislation: . Section 1. “lists the amount of debt service on bonds issued for each toll project in this state;” . Section 2. “identifies, based on criteria provided by the Texas Transportation Commission, bonds that would be appropriate for accelerated or complete lump-sum payment of debt service;” . Section 3. “proposes a plan to eliminate all toll roads in this state, except for tolls on roads constructed, operated, or maintained only with proceeds from the issuance of bonds by a toll project entity other than the department, by methods including: – “the accelerated or complete lump-sum payment of debt service on bonds identified under Subdivision (1); or – “requiring, as a condition on receipt of state financial assistance, a commitment by a toll project entity to eliminate toll collection on a project for which the financial assistance is provided.” The report includes a review of the 53 toll roads and 28 financial tolling systems in the state, excluding international bridges.
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