SECTION 6.1. Purpose

(a) Transportation Code, Chapter 222, Subchapter D, establishes a state infrastructure bank as an account within the state highway fund, to be administered by the Texas Transportation Commission. Consistent with applicable legal restrictions on its use, the commission shall use money deposited in the bank to:

(1) encourage public and private investment in transportation facilities both within and outside of the state highway system, including facilities that contribute to the multimodal and intermodal transportation capabilities of the state; and

(2) develop financing techniques designed to:

(A) expand the availability of funding for transportation projects and to reduce direct state costs;

(B) maximize private and local participation in financing projects; and

(C) improve the efficiency of the state transportation system.

(b) This chapter specifies the procedures and conditions by which an eligible entity may apply for and obtain financial assistance from the bank.

Source Note: The provisions of this §6.1 adopted to be effective January 8, 1998, 23 TexReg 151; amended to be effective January 5, 2006, 30 TexReg 8990; amended to be effective October 21, 2010, 35 TexReg 9361