P.O. Box 12068, State Capitol
Austin, Texas 78711
Tel. (512) 463-0112
FOR IMMEDIATE RELEASE
February 28, 2007
AUSTIN -- State Senator Jane Nelson, R-Lewisville, today filed truth-in-tolling legislation (SB 995) that would require full public disclosure of the terms of any transportation project involving toll roads.
"The public will not tolerate an unlimited amount of tolling on our state highways, especially if they feel they are being kept in the dark about the contents of toll road contracts," Senator Nelson said. "Anything less than total transparency in this process is unacceptable, which is why I filed this bill."
Specifically, SB 995 states that after a toll authority has picked the winner of a toll contract, and before the contract is entered, toll authorities must publish in local newspapers the following information:
- Financial details of the toll contract, including the total amount of debt that will be assumed for to build and maintain the project;
- A description of how the debt will be repaid, including a timeline for repayment;
- Whether the toll project will continue to be tolled after the debt has been repaid;
- A description of the method used to set the toll rates.
After publication of this information, and before entering into the toll contract, the toll authority must hold public hearings on those financial details.