Texas Transportation Code

§ 222.077 — REPAYMENT TERMS; DEPOSIT OF REPAYMENTS; INVESTMENT INCOME

TN § 222.077Title 6. ROADWAYS · Part B. STATE HIGHWAY SYSTEM · Ch. 222. FUNDING AND FEDERAL AID · Art. D. STATE INFRASTRUCTURE BANK

Statute text

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(a)Any funds disbursed through the state infrastructure bank must be repaid on terms determined by the commission. The terms must comply with the federal act except for terms applicable to funds deposited in a subaccount described by Section 222.076(b).

(b)Notwithstanding any other law to the contrary:

(1)the repayment of a loan or other assistance provided with money deposited to the credit of a subaccount in the bank shall be deposited in that subaccount; and

(2)investment income generated by money deposited to the credit of a subaccount in the bank shall be:

(A)credited to that subaccount;

(B)available for use in providing financial assistance under this subchapter; and

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Legislative history

Acts 2005, 79th Leg., Ch. 1267 (H.B. 2134), Sec. 5, eff. June 18, 2005.