Tex. Transp. Code § 56.003 · Chapter 56. FUNDING OF SHIP CHANNEL IMPROVEMENTS
REVOLVING LOAN PROGRAM.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The commission by rule shall establish a revolving loan program to use money from the fund to enhance the financing capabilities of entities responsible for the local share of qualified project costs by providing revenue or security for:
(1) low-interest loans;
(2) longer repayment terms for loans; and
(3) flexible loan repayment terms, including:
(A) loan structures similar to a line of credit; and
(B) authorized prepayment of loans in advance of the loan's stated maturity date.
(b) To be a qualified project, a project must:
(1) deepen or widen a ship channel;
(2) be authorized by the United States Congress; and
(3) meet any other standards provided by commission rule.
(c) A project for maintenance dredging is not a qualified project under this section.
Notes and commentary — not statutory text
History
Added by Acts 2017, 85th Leg., R.S., Ch. 180 (S.B. 28), Sec. 4, eff. May 26, 2017.
Amended by:
Acts 2019, 86th Leg., R.S., Ch. 1310 (H.B. 3850), Sec. 2, eff. June 14, 2019.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/TN/htm/TN.56.htm
- Text hash
- sha256 8ee01169f458a837d32abfd4ca15dd54bf3fdf7f548e881c544d32b0908d2218
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
Cited by 1 provision
Provisions in this library whose text cites Tex. Transp. Code § 56.003. Each shows the citation as that text prints it.
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