Texas § 456.062 LOANS TO CORPORATION.

Texas Statutes

§ 456.062 — LOANS TO CORPORATION.

Texas § 456.062

Code TNTransportation Code

This text of Texas § 456.062 (LOANS TO CORPORATION.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Transportation Code Code Ann. § 456.062 (2026).

Text

Sec. 456.062. LOANS TO CORPORATION.

(a)Under the authority of Section 52-a , Article III, Texas Constitution, and from funds appropriated from the general revenue fund for this purpose, the commission may loan money to an eligible corporation that provides rail passenger service in the state.

(b)Notwithstanding any other statutory restriction, the portion of the state highway fund not dedicated by the constitution is collateral for repayment of a loan made under this section. The comptroller may transfer from that portion of the state highway fund to the general revenue fund the amount needed to repay any unpaid balance on the loan, including applicable interest, in accordance with the loan agreement.

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Sec. 456.062. LOANS TO CORPORATION. (a) Under the authority of Section 52-a , Article III, Texas Constitution, and from funds appropriated from the general revenue fund for this purpose, the commission may loan money to an eligible corporation that provides rail passenger service in the state.
(b) Notwithstanding any other statutory restriction, the portion of the state highway fund not dedicated by the constitution is collateral for repayment of a loan made under this section. The comptroller may transfer from that portion of the state highway fund to the general revenue fund the amount needed to repay any unpaid balance on the loan, including applicable interest, in accordance with the loan agreement.