• 1953
O Legislature creates Texas Turnpike Authority (TTA)
• 1954
O Voters approve constitutional amendment prohibiting use of state money or credit to build or maintain toll roads (toll roads could be financed only with the revenue generated by the road itself).
• 1957
O Dallas-Fort Worth Turnpike opens (debt retired 17 years early in 1977 and tolls removed)
• 1966
O TTA begins Dallas North Tollway
• 1983
O Legislature authorized creation of Harris County Toll Road Authority (HCTRA)
• 1987
O Voters reject a constitutional amendment that would have 1) permitted joint projects by the TTA and TxDOT; 2) allowed the state to contribute money from any source for such projects; and 3) allowed certain counties and cities to use revenue from a specific property tax to subsidize toll roads.
• 1991
O Voters approve constitutional amendment allowing TxDOT to contribute state money for toll projects as long as any Fund 6 money used for this purpose was repaid with toll revenue.
• 1997
O North Texas Tollway Authority (NTTA) created
• 2001
O Proposition 15: Texas Mobility Fund (TMF) created (no hard cap; $ limits based on revenue sources - namely traffic violation, driver license and inspection fees).
O "Toll equity" concept - TxDOT now authorized to spend money from any source on public toll projects without reimbursement.
■ Surplus funds deposited back into Fund 6 to be spent on other toll projects or facilities.
O RMAs created; TxDOT authorized to transfer any highway to RMAs for maintenance and operation as toll roads. RMAs may spend toll revenue from these conversions on any roadway within their jurisdiction.
• 2003
O RMAs powers expanded; along with HCTRA and NTTA, RMAs may now condemn property via eminent domain and issue revenue bonds
O Proposition 14 - allowing borrowing by the Texas Transportation Commission (sold to the public as a cash-management tool)
■ Prop 14 authorized the issuance of Fund 6 backed bonds (separate from the Texas Mobility Fund, which is backed by specific fees). Legislature initially authorized $1B in Fund 6 bonds annually (up to a total of $3B)
• Note: in 2007, SB792 doubled the aggregate limit to $6B and authorized $1.5B annually.
O TxDOT authorized to use pass-through financing and shadow tolls (payments made incrementally to either public or private entities).
O HB3588 (Krusee) authorized the Trans Texas Corridor (TTC).
• 2005
O CDAs authorized
O Proposition 9 defeated (63.4%-46.6%) - would have provided for staggered 6 year terms for RMA board members, with no more than 1/3 being appointed every two years.
■ Article XVI, Section 30(a) of the Texas state constitution states, "The duration of all offices not fixed by this Constitution shall never exceed two years." Opposition to the amendment was driven by the perception that it would make the RMA boards less accountable.
• 2007
O Prop 14 (from 2003) Bonds aggregate limit doubled to $6B; annual issuance increased from $1B to $1.5B.
O Proposition 12 Bonds approved.
■ Authorizes up to $5B in General Obligation bonds for highway construction.
■ Enabling legislation (failed to pass) that would have let the proceeds of these bonds be used for loans to local authorities to pay for development of new toll road projects.
O SB 792 Moratorium and the LSC