HB 1112 and other bills regarding eminent domain on General House Calendar for Wednesday
HB 1112 - to allow toll entities to toll in perpetuity and use borrowed money to secure more borrowed money, the same schemes that caused the subprime mortgage crisis! Like building roads with credit cards.
HB 1112 is a vote for Robin Hood toll schemes stealing toll taxes from one corridor and giving it to another corridor (that those same users may not use) as well as to increase the toll on one segment to gain "surplus revenue" to pledge to another project, making it impossible to take tolls off the original road. The Senate Transportation Committee March 9 stated such "system financing" means tolls in perpetuity.
The Texas Constitution prohibits perpetuities in Art I, Sec. 26. (The Senate version of this, SB 581, is being heard in Committee, the House version is already out of Committee and up for a floor vote Wednesday. If we don't defeat it in the House, it's assured passage)