BILL ANALYSIS Senate Research Center S.B. 1035 81R5113 ATP-D By: Hinojosa International Relations & Trade 3/29/2009 As Filed AUTHOR'S / SPONSOR'S STATEMENT OF INTENT Cultural education facilities finance corporations (corporation) may access financing tools to deliver enhanced servicesoften healthcare-relatedto underserved communities. The Cultural Education Facilities Finance Corporation Act (Act), which allows for the creation of cultural education facilities finance corporations, includes a broad category of qualifying services a corporation may provide under the Act and qualify for bond-issuing power. Corporations formed under the Act may issue bonds to build or renovate facilities. In turn, the corporations increase community access to wellness services, specifically in underserved areas. The corporations secure their own bonds with property and assets. The corporations may also invest and reinvest funds as part of the overall strategy to provide health care services. As proposed, S.B. 1035 authorizes the authority of the corporation to be exercised inside or outside the limits of the city that created the corporation if the city is located in a county with a population of more than 300,000 or inside or outside the limits of the county that created the corporation if the county has a pollution of more than 300,000. RULEMAKING AUTHORITY This bill does not expressly grant any additional rulemaking authority to a state officer, institution, or agency. SECTION BY SECTION ANALYSIS SECTION 1. Amends Section 4(d), Cultural Education Facilities Finance Corporation Act (Article 1528m, V.T.C.S.), as follows: (d) Authorizes the authority of the Cultural Education Facilities Finance Corporation (corporation) to be exercised inside or outside the limits of the city that created the corporation if the city is located in a county with a population of more than 300,000, rather than 400,000, or inside or outside the limits of the county that created the corporation if the county has a population of more than 300,000, rather than 400,000. SECTION 2. Effective date: upon passage or September 1, 2009.
BILL ANALYSIS
Senate Research Center S.B. 1035
81R5113 ATP-D By: Hinojosa
International Relations & Trade
3/29/2009
As Filed
AUTHOR'S / SPONSOR'S STATEMENT OF INTENT
Cultural education facilities finance corporations (corporation) may access financing tools to deliver enhanced servicesoften healthcare-relatedto underserved communities. The Cultural Education Facilities Finance Corporation Act (Act), which allows for the creation of cultural education facilities finance corporations, includes a broad category of qualifying services a corporation may provide under the Act and qualify for bond-issuing power.
Corporations formed under the Act may issue bonds to build or renovate facilities. In turn, the corporations increase community access to wellness services, specifically in underserved areas. The corporations secure their own bonds with property and assets. The corporations may also invest and reinvest funds as part of the overall strategy to provide health care services.
As proposed, S.B. 1035 authorizes the authority of the corporation to be exercised inside or outside the limits of the city that created the corporation if the city is located in a county with a population of more than 300,000 or inside or outside the limits of the county that created the corporation if the county has a pollution of more than 300,000.
RULEMAKING AUTHORITY
This bill does not expressly grant any additional rulemaking authority to a state officer, institution, or agency.
SECTION BY SECTION ANALYSIS
SECTION 1. Amends Section 4(d), Cultural Education Facilities Finance Corporation Act (Article 1528m, V.T.C.S.), as follows:
(d) Authorizes the authority of the Cultural Education Facilities Finance Corporation (corporation) to be exercised inside or outside the limits of the city that created the corporation if the city is located in a county with a population of more than 300,000, rather than 400,000, or inside or outside the limits of the county that created the corporation if the county has a population of more than 300,000, rather than 400,000.
SECTION 2. Effective date: upon passage or September 1, 2009.