7/14/03-A proposed constitutional amendment that would have permitted the Texas Transportation Commission to issue $5 billion of highway revenue bonds to speed up construction projects has died.
Under SJR44, the state could have issued up to $1 billion of highway revenue bonds each year for five years. The debt would have been backed by the state’s highway fund, which comprises federal funds, motor fuel taxes, and vehicle registration fees totaling about $10 billion each two-year period.
The resolution, which passed the Senate in April, failed to gain passage in the House before lawmakers adjourned for the year in June.

5/9/03-The House is preparing for discussion of a proposed constitutional amendment that would permit the Texas Transportation Commission to issue $5 billion of highway revenue bonds to speed up construction projects.
Under SJR44, written by Sen. Steve Ogden, R-College Station, the state could issue up to $1 billion of highway revenue bonds each year for five years. The debt would be backed by the state’s highway fund, which comprises federal funds, motor fuel taxes, and vehicle registration fees totaling about $10 billion each two-year period.
The resolution, which passed the Senate last month, is headed to the House floor for debate. If it gains approval there and is signed by Gov. Rick Perry, it would go before voters in November.
For bill status, call (512) 463-2182.

4/14/03-The Senate signed off April 9 on a proposed constitutional amendment that would permit the Texas Transportation Commission to issue $5 billion of highway revenue bonds to speed up construction projects.
Under SJR44, written by Sen. Steve Ogden, R-College Station, the state could issue up to $1 billion of highway revenue bonds each year for five years. The debt would be backed by the state’s highway fund, which comprises federal funds, motor fuel taxes, and vehicle registration fees totaling about $10 billion each two-year period.
If the measure gains approval in the House and Gov. Rick Perry, it would go before voters in November.