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A BILL TO BE ENTITLED
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AN ACT
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relating to authorizing the issuance of revenue bonds to fund |
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capital projects at public institutions of higher education. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter B, Chapter 55, Education Code, is |
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amended by adding Sections 55.1781, 55.1782, 55.1783, 55.1784, |
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55.1785, 55.1786, 55.1787, 55.1788, 55.1789, 55.17891, and |
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55.17892 to read as follows: |
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Sec. 55.1781. THE TEXAS A&M UNIVERSITY SYSTEM; ADDITIONAL |
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BONDS. (a) In addition to the other authority granted by this |
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subchapter, the board of regents of The Texas A&M University System |
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may acquire, purchase, construct, improve, renovate, enlarge, or |
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equip facilities, including roads and related infrastructure, for |
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projects to be financed through the issuance of bonds in accordance |
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with this subchapter and in accordance with a systemwide revenue |
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financing program adopted by the board for the institutions and |
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facilities identified in the Texas Higher Education Coordinating |
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Board tuition revenue bond evaluation report submitted to the |
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Legislative Budget Board by January 15, 2013. |
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(b) The board may pledge irrevocably to the payment of bonds |
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authorized by this section all or any part of the revenue funds of |
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an institution, branch, or entity of The Texas A&M University |
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System, including student tuition charges. The amount of a pledge |
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made under this subsection may not be reduced or abrogated while the |
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bonds for which the pledge is made, or bonds issued to refund those |
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bonds, are outstanding. |
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(c) If sufficient funds are not available to the board to |
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meet its obligations under this section, the board may transfer |
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funds among institutions, branches, and entities of The Texas A&M |
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University System to ensure the most equitable and efficient |
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allocation of available resources for each institution, branch, or |
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entity to carry out its duties and purposes. |
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Sec. 55.1782. THE UNIVERSITY OF TEXAS SYSTEM; ADDITIONAL |
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BONDS. (a) In addition to the other authority granted by this |
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subchapter, the board of regents of The University of Texas System |
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may acquire, purchase, construct, improve, renovate, enlarge, or |
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equip facilities, including roads and related infrastructure, for |
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projects to be financed through the issuance of bonds in accordance |
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with this subchapter and in accordance with a systemwide revenue |
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financing program adopted by the board for the institutions and |
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facilities identified in the Texas Higher Education Coordinating |
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Board tuition revenue bond evaluation report submitted to the |
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Legislative Budget Board by January 15, 2013. |
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(b) The board may pledge irrevocably to the payment of bonds |
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authorized by this section all or any part of the revenue funds of |
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an institution, branch, or entity of The University of Texas |
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System, including student tuition charges. The amount of a pledge |
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made under this subsection may not be reduced or abrogated while the |
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bonds for which the pledge is made, or bonds issued to refund those |
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bonds, are outstanding. |
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(c) If sufficient funds are not available to the board to |
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meet its obligations under this section, the board may transfer |
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funds among institutions, branches, and entities of The University |
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of Texas System to ensure the most equitable and efficient |
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allocation of available resources for each institution, branch, or |
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entity to carry out its duties and purposes. |
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Sec. 55.1783. UNIVERSITY OF HOUSTON SYSTEM; ADDITIONAL |
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BONDS. (a) In addition to the other authority granted by this |
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subchapter, the board of regents of the University of Houston |
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System may acquire, purchase, construct, improve, renovate, |
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enlarge, or equip facilities, including roads and related |
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infrastructure, for the following institutions, to be financed |
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through the issuance of bonds in accordance with this subchapter |
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and in accordance with a systemwide revenue financing program |
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adopted by the board for the institutions and facilities identified |
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in the Texas Higher Education Coordinating Board tuition revenue |
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bond evaluation report submitted to the Legislative Budget Board by |
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January 15, 2013. |
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(b) The board may pledge irrevocably to the payment of bonds |
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authorized by this section all or any part of the revenue funds of |
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an institution, branch, or entity of the University of Houston |
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System, including student tuition charges. The amount of a pledge |
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made under this subsection may not be reduced or abrogated while the |
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bonds for which the pledge is made, or bonds issued to refund those |
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bonds, are outstanding. |
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(c) If sufficient funds are not available to the board to |
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meet its obligations under this section, the board may transfer |
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funds among institutions, branches, and entities of the University |
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of Houston System to ensure the most equitable and efficient |
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allocation of available resources for each institution, branch, or |
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entity to carry out its duties and purposes. |
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Sec. 55.1784. TEXAS STATE UNIVERSITY SYSTEM; ADDITIONAL |
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BONDS. (a) In addition to the other authority granted by this |
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subchapter, the board of regents of the Texas State University |
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System may acquire, purchase, construct, improve, renovate, |
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enlarge, or equip facilities, including roads and related |
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infrastructure, for projects to be financed through the issuance of |
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bonds in accordance with this subchapter and in accordance with a |
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systemwide revenue financing program adopted by the board for the |
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institutions and facilities identified in the Texas Higher |
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Education Coordinating Board tuition revenue bond evaluation |
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report submitted to the Legislative Budget Board by January 15, |
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2013. |
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(b) The board may pledge irrevocably to the payment of bonds |
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authorized by this section all or any part of the revenue funds of |
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an institution, branch, or entity of the Texas State University |
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System, including student tuition charges. The amount of a pledge |
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made under this subsection may not be reduced or abrogated while the |
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bonds for which the pledge is made, or bonds issued to refund those |
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bonds, are outstanding. |
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(c) If sufficient funds are not available to the board to |
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meet its obligations under this section, the board may transfer |
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funds among institutions, branches, and entities of the Texas State |
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University System to ensure the most equitable and efficient |
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allocation of available resources for each institution, branch, or |
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entity to carry out its duties and purposes. |
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Sec. 55.1785. UNIVERSITY OF NORTH TEXAS SYSTEM; ADDITIONAL |
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BONDS. (a) In addition to the other authority granted by this |
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subchapter, the board of regents of the University of North Texas |
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System may acquire, purchase, construct, improve, renovate, |
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enlarge, or equip facilities, including roads and related |
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infrastructure, for projects to be financed through the issuance of |
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bonds in accordance with this subchapter and in accordance with a |
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systemwide revenue financing program adopted by the board for the |
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institutions and facilities identified in the Texas Higher |
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Education Coordinating Board tuition revenue bond evaluation |
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report submitted to the Legislative Budget Board by January 15, |
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2013. |
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(b) The board may pledge irrevocably to the payment of bonds |
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authorized by this section all or any part of the revenue funds of |
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an institution, branch, or entity of the University of North Texas |
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System, including student tuition charges. The amount of a pledge |
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made under this subsection may not be reduced or abrogated while the |
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bonds for which the pledge is made, or bonds issued to refund those |
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bonds, are outstanding. |
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(c) If sufficient funds are not available to the board to |
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meet its obligations under this section, the board may transfer |
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funds among institutions, branches, and entities of the University |
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of North Texas System to ensure the most equitable and efficient |
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allocation of available resources for each institution, branch, or |
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entity to carry out its duties and purposes. |
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Sec. 55.1786. TEXAS WOMAN'S UNIVERSITY. (a) In addition |
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to the other authority granted by this subchapter, the board of |
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regents of Texas Woman's University may acquire, purchase, |
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construct, improve, renovate, enlarge, or equip facilities, |
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including roads and related infrastructure, for projects to be |
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financed through the issuance of bonds in accordance with this |
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subchapter and identified in the Texas Higher Education |
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Coordinating Board tuition revenue bond evaluation report |
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submitted to the Legislative Budget Board by January 15, 2013. |
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(b) The board may pledge irrevocably to the payment of bonds |
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authorized by this section all or any part of the revenue funds of |
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Texas Woman's University, including student tuition charges. The |
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amount of a pledge made under this subsection may not be reduced or |
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abrogated while the bonds for which the pledge is made, or bonds |
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issued to refund those bonds, are outstanding. |
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Sec. 55.1787. MIDWESTERN STATE UNIVERSITY; ADDITIONAL |
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BONDS. (a) In addition to the other authority granted by this |
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subchapter, the board of regents of Midwestern State University may |
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acquire, purchase, construct, improve, renovate, enlarge, or equip |
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facilities, including roads and related infrastructure, identified |
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in the Texas Higher Education Coordinating Board tuition revenue |
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bond evaluation report submitted to the Legislative Budget Board by |
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January 15, 2013. |
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(b) The board may pledge irrevocably to the payment of bonds |
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authorized by this section all or any part of the revenue funds of |
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Midwestern State University, including student tuition charges. |
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The amount of a pledge made under this subsection may not be reduced |
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or abrogated while the bonds for which the pledge is made, or bonds |
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issued to refund those bonds, are outstanding. |
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Sec. 55.1788. STEPHEN F. AUSTIN STATE UNIVERSITY. (a) In |
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addition to the other authority granted by this subchapter, the |
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board of regents of Stephen F. Austin State University may acquire, |
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purchase, construct, improve, renovate, enlarge, or equip |
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facilities, including roads and related infrastructure, identified |
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in the Texas Higher Education Coordinating Board tuition revenue |
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bond evaluation report submitted to the Legislative Budget Board by |
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January 15, 2013. |
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(b) The board may pledge irrevocably to the payment of bonds |
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authorized by this section all or any part of the revenue funds of |
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Stephen F. Austin State University, including student tuition |
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charges. The amount of a pledge made under this subsection may not |
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be reduced or abrogated while the bonds for which the pledge is |
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made, or bonds issued to refund those bonds, are outstanding. |
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Sec. 55.1789. TEXAS TECH UNIVERSITY SYSTEM; ADDITIONAL |
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BONDS. (a) In addition to the other authority granted by this |
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subchapter, the board of regents of the Texas Tech University |
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System may acquire, purchase, construct, improve, renovate, |
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enlarge, or equip facilities, including roads and related |
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infrastructure, for projects to be financed through the issuance of |
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bonds in accordance with this subchapter and in accordance with a |
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systemwide revenue financing program adopted by the board for the |
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institutions and facilities identified in the Texas Higher |
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Education Coordinating Board tuition revenue bond evaluation |
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report submitted to the Legislative Budget Board by January 15, |
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2013. |
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(b) The board may pledge irrevocably to the payment of bonds |
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authorized by this section all or any part of the revenue funds of |
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an institution, branch, or entity of the Texas Tech University |
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System, including student tuition charges. The amount of a pledge |
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made under this subsection may not be reduced or abrogated while the |
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bonds for which the pledge is made, or bonds issued to refund those |
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bonds, are outstanding. |
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(c) If sufficient funds are not available to the board to |
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meet its obligations under this section, the board may transfer |
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funds among institutions, branches, and entities of the Texas Tech |
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University System to ensure the most equitable and efficient |
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allocation of available resources for each institution, branch, or |
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entity to carry out its duties and purposes. |
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Sec. 55.17891. TEXAS SOUTHERN UNIVERSITY; ADDITIONAL |
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BONDS. (a) In addition to the other authority granted by this |
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subchapter, the board of regents of Texas Southern University may |
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acquire, purchase, construct, improve, renovate, enlarge, or equip |
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facilities, including roads and related infrastructure, identified |
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in the Texas Higher Education Coordinating Board tuition revenue |
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bond evaluation report submitted to the Legislative Budget Board by |
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January 15, 2013. |
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(b) The board may pledge irrevocably to the payment of bonds |
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authorized by this section all or any part of the revenue funds of |
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Texas Southern University, including student tuition charges. The |
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amount of a pledge made under this subsection may not be reduced or |
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abrogated while the bonds for which the pledge is made, or bonds |
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issued to refund those bonds, are outstanding. |
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Sec. 55.17892. TEXAS STATE TECHNICAL COLLEGE SYSTEM. |
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(a) In addition to the other authority granted by this subchapter, |
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the board of regents of the Texas State Technical College System may |
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acquire, purchase, construct, improve, renovate, enlarge, or equip |
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property, buildings, structures, facilities, roads, or related |
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infrastructure, for projects to be financed through the issuance of |
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bonds in accordance with this subchapter and identified in the |
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Texas Higher Education Coordinating Board tuition revenue bond |
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evaluation report submitted to the Legislative Budget Board by |
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January 15, 2013. |
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(b) The board may pledge irrevocably to the payment of those |
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bonds all or any part of the revenue funds of an institution, |
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branch, or entity of the Texas State Technical College System, |
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including student tuition charges. The amount of a pledge made |
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under this subsection may not be reduced or abrogated while the |
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bonds for which the pledge is made, or bonds issued to refund those |
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bonds, are outstanding. |
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(c) If sufficient funds are not available to the board to |
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meet its obligations under this section, the board may transfer |
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funds among institutions, branches, and entities of the Texas State |
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Technical College System to ensure the most equitable and efficient |
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allocation of available resources for each institution, branch, or |
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entity to carry out its duties and purposes. |
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SECTION 2. Section 61.0572(e), Education Code, is amended |
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to read as follows: |
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(e) Approval of the board is not required to acquire real |
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property that is financed by bonds issued under Section 55.17(e)(3) |
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or (4), 55.1713-55.1718, 55.1721-55.1728, 55.1735(a)(1), 55.174, |
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55.1742, 55.1743, 55.1744, 55.1751-55.17592, 55.1768, 55.1771, |
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[or] 55.17721, or 55.1781-55.17892, except that the board shall |
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review all real property to be financed by bonds issued under those |
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sections to determine whether the property meets the standards |
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adopted by the board for cost, efficiency, and space use. If the |
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property does not meet those standards, the board shall notify the |
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governor, the lieutenant governor, the speaker of the house of |
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representatives, and the Legislative Budget Board. |
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SECTION 3. Section 61.058(b), Education Code, is amended to |
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read as follows: |
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(b) This section does not apply to construction, repair, or |
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rehabilitation financed by bonds issued under Section 55.17(e)(3) |
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or (4), 55.1713-55.1718, 55.1721-55.1728, 55.174, 55.1742, |
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55.1743, 55.1744, 55.1751-55.17592, 55.1768, 55.1771, [or] |
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55.17721, or 55.1781-55.17892, except that the board shall review |
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all construction, repair, or rehabilitation to be financed by bonds |
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issued under those sections to determine whether the construction, |
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rehabilitation, or repair meets the standards adopted by board rule |
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for cost, efficiency, and space use. If the construction, |
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rehabilitation, or repair does not meet those standards, the board |
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shall notify the governor, the lieutenant governor, the speaker of |
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the house of representatives, and the Legislative Budget Board. |
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SECTION 4. This Act does not affect any authority or |
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restriction regarding the activities that a public institution of |
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higher education may conduct in connection with a facility financed |
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by bonds authorized by this Act. |
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SECTION 5. This Act takes effect immediately if it receives |
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a vote of two-thirds of all the members elected to each house, as |
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provided by Section 39, Article III, Texas Constitution. If this |
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Act does not receive the vote necessary for immediate effect, this |
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Act takes effect September 1, 2013. |