Sec. 222.076. SEPARATE SUBACCOUNTS. (a) The bank shall consist of at least two separate subaccounts, a highway subaccount and a transit subaccount.
(b) In addition to the subaccounts under Subsection (a), the commission may create one or more subaccounts that are capitalized with state funds only. Subaccounts capitalized with state funds only are not subject to the federal act.
Added by Acts 1997, 75th Leg., ch. 1171, Sec. 1.21, eff. Sept. 1, 1997.
Amended by:
Acts 2005, 79th Leg., Ch. 1267 (H.B. 2134), Sec. 4, eff. June 18, 2005.
Structure Texas Statutes
Subtitle B - State Highway System
Chapter 222 - Funding and Federal Aid
Subchapter D. State Infrastructure Bank
Section 222.072. State Infrastructure Bank
Section 222.073. Purposes of Infrastructure Bank
Section 222.074. Form of Assistance
Section 222.0745. Incurrence of Debt by Public Entity
Section 222.075. Revenue Bonds
Section 222.076. Separate Subaccounts
Section 222.077. Repayment Terms; Deposit of Repayments; Investment Income