This website will be unavailable from Thursday, May 30, 2024 at 6:00 p.m. through Monday, June 3, 2024 at 7:00 a.m. due to data center maintenance.

  85R2830 KKA-F
 
  By: Murphy H.B. No. 467
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to the guarantee of charter district bonds by the
  permanent school fund.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Sections 45.0532(a), (a-1), and (b), Education
  Code, are amended to read as follows:
         (a)  In addition to the general limitation under Section
  45.053, the commissioner may not approve charter district bonds for
  guarantee under this subchapter in a total amount that exceeds the
  charter capacity [percentage of the total available capacity] of
  the guaranteed bond program [that is equal to the percentage of the
  number of students enrolled in open-enrollment charter schools in
  this state compared to the total number of students enrolled in all
  public schools in this state, as determined by the commissioner].
         (a-1)  The commissioner may not approve charter district
  refunding or refinanced bonds for guarantee under this subchapter
  in a total amount that exceeds one-half of the charter capacity
  [total amount available for the guarantee of charter district bonds
  under Subsection (a)].
         (b)  For purposes of this section [Subsection (a)], the
  charter [total available] capacity of the guaranteed bond program
  is the percentage of the total capacity of the guaranteed bond
  program [limit] established by the board under Sections 45.053(d)
  and 45.0531 that is equal to the percentage of the number of
  students enrolled in open-enrollment charter schools in this state
  compared to the total number of students enrolled in all public
  schools in this state, as determined by the commissioner [minus the
  total amount of outstanding guaranteed bonds].  Each time the board
  increases the limit under Section 45.053(d), the total amount of
  charter district bonds that may be guaranteed increases accordingly
  under Subsection (a).
         SECTION 2.  This Act takes effect immediately if it receives
  a vote of two-thirds of all the members elected to each house, as
  provided by Section 39, Article III, Texas Constitution.  If this
  Act does not receive the vote necessary for immediate effect, this
  Act takes effect September 1, 2017.