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Nichols’ Statement on Private Toll Road Moratorium Bill
Austin—The following is from Sen. Robert Nichols (R-Jacksonville) who is a member of the SB 792 conference committee and first proposed a two-year moratorium on private equity toll roads when he filed SB 1267.
While there are exceptions to the moratorium, SB 792 accomplishes several important goals:
1) More than 99 percent of Texas’ highway system, including existing toll roads, is protected from private equity contracts under the moratorium and additional protections in SB 792.
2) All counties covered by any local toll authority have a seat at the table before a private equity contract can proceed. These local groups will be armed with a first option to do the project themselves as well as a veto to keep the state from proceeding without them.
3) A mechanism is established, through a study task force, to evaluate and make recommendations for the next legislative session concerning terms in private equity contracts as well as better protections for taxpayers.
This bill is a good first step.
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