1. (a) Request. An RMA may request that the department transfer to the RMA a segment of tolled state highway that was constructed by the department.
2. (b) Effect of transfer. Upon transfer, the highway is considered for all purposes a turnpike project of the RMA. The RMA is responsible for the operation and maintenance of the project and assumes responsibility for all project debt.

3. (c) Approval. The commission may approve a transfer under this section if the commission determines that:

   1. (1) the transfer is allowed by the trust agreement or indenture entered into by the commission for that project;
   2. (2) property and contract rights in the project and bonds issued by the commission for the project would not be affected unfavorably; and
   3. (3) the RMA is capable of maintaining and operating the project in a safe and efficient manner.
4. (d) Surplus revenue. Notwithstanding the provisions of Subchapter G of this chapter to the contrary, the commission may, as a condition to the transfer, require that expenditures of surplus revenue, if any, derived from a transferred highway be made to implement projects included in the metropolitan transportation plan or the department's unified transportation program. Within the project agreement described under §26.54 of this subchapter, the commission and the RMA shall, prior to transfer, mutually agree to the amount of expenditures subject to this section and projects to be funded under this section. These provisions may be revised at any time upon agreement of both parties.
5. (e) Agreement. If the commission approves a transfer, the department and the RMA shall enter into a project operating agreement under §26.54 of this subchapter.

Source Note:The provisions of this §26.55 adopted to be effective July 18, 2002, 27 TexReg 6354.