Texas Senate Bill SB847

Texas 2021 - 87th Regular

Caption

Relating to authorizing the issuance of revenue bonds for capital projects at Texas Tech University Health Sciences Center El Paso.

Impact

The addition of Section 55.1799 of the Education Code outlines that the funding can also include roads and related infrastructure. This infusion of capital is expected to bolster the facilities available at the El Paso campus, which may lead to enhanced educational capabilities and potentially greater enrollment figures. The pledge of revenue funds, such as student tuition charges, ensures a secure repayment method for these bonds, although this also raises concerns regarding the potential financial burden on students if tuition increases as a result.

Summary

SB847 aims to authorize the issuance of revenue bonds for capital projects specifically at Texas Tech University Health Sciences Center El Paso. This enables the board of regents of the Texas Tech University System to fund various construction and renovation projects, including the establishment of a new dental school building. The total principal amount for the bonds is capped at $26,171,922, which will be financed under a systemwide revenue financing program. The bill represents a strategic effort to expand educational facilities in the state, potentially improving opportunities for students in the healthcare sector.

Contention

There might be contention surrounding the bill regarding how it affects financial responsibilities, particularly in terms of student tuition pledges. While proponents argue that this investment will pay off by enhancing educational offerings and expanding the university's capabilities, critics might raise concerns about the implications of pledging tuition revenues. The bill's passage hinges on achieving a two-thirds majority vote in both houses of the legislature, making its immediate effect contingent on strong bipartisan support.