Bill > SB995

This bill modifies the Texas Transportation Code to change the approval process for surety bonds related to oversize or overweight vehicles crossing roads or highways. Currently, surety bonds for such vehicles must be approved by the comptroller and attorney general, but the bill revises this to require approval solely by the Texas Department of Transportation (TxDOT). The bill maintains the existing requirements that a person must execute a surety bond with a corporate surety authorized to do business in Texas, with the bond amount determined by the commission to compensate for potential maintenance and repair costs. The bond must also be conditioned on the person fulfilling their contractual obligations. The changes will apply only to surety bond approvals on or after the bill's effective date, which will be immediate if it receives a two-thirds vote in each legislative house, or September 1, 2025, if it does not receive the immediate effect vote. This modification streamlines the bond approval process by consolidating responsibility with TxDOT and removing the previous requirement of dual approval from the comptroller and attorney general.