Legislation requiring more information about the Texas Central High Speed Rail Project is now before the governor

This podcast contains comments from the floor of the Texas Senate on May 19, 2025.Those wanting to build a high speed passenger train through the Brazos Valley between Houston and Dallas will face more requirements as part of state legislation that is waiting for the governor's consideration.That's after the state senate on Monday (May 20) passed House bill 2003 by a 22 to nine margin.Presenting the legislation was senator Lois Kolkhorst of Brenham. On the senate floor, Kolkhorst asked "Who owns the project? At this point, no one's really is even certain."Kolkhorst also said "With operations halted, it is nearly impossible for east Texas landowners, many of whom have received these eminent domain notices, to ascertain the true status of the project."Also voting for HB 2003 was Charles Schwertner of Georgetown. The districts served by Kolkhorst and Schwertner includes part of the proposed route of the Texas Central project that began in 2013.HB 2003 was passed by the House on April 25th by a vote of 127 to nothing. The yes votes includes Trey Wharton of Huntsville and Angelia Orr of Itasca, whose districts also include part of the proposed route.Click HERE to read and download House Bill 2003.The legislation, if the governor agrees, requires Texas Central to disclose on the Texas department of transportation website:(1) The proposed method of financing of the construction or acquisition of the project, including: (A) the extent to which funds for financing are currently available; and (B) for any securities to be issued: (i) the approximate terms of sale and total fixed charges of the securities; (ii) whether the securities issued will be underwritten by industries to be served by the proposed line; and (iii) an explanation of how the fixed charges will be met;(2) a recent balance sheet;(3) a present value determination of the full costs of the proposal;(4) if construction is proposed, the costs for each year of the construction;(5) a proposed schedule for completion of the project, including timeline for permitting, funding, and land acquisition;(6) ridership projections and methodology;(7) the proposed route;(8) an organization chart of the entity ’s management and staff; and(9) disclosure of any current or planned foreign investment in the project.