Texas Senate Bill SB1339

Texas 2009 - 81st Regular

Caption

Relating to authorizing the issuance of revenue bonds for the University of Houston Multi-Cultural Studies and Classroom Complex.

Impact

The passage of SB1339 would have significant implications for funding education infrastructure in Texas. By allowing the University of Houston to leverage revenue bonds, the bill facilitates the expansion of academic and cultural facilities that are essential for a diverse student body. This is particularly important as higher education seeks to better reflect the diverse populations of Texas and provide inclusive educational opportunities. Additionally, the ability of the university to pledge revenue funds, including from student tuition, ensures a steady repayment mechanism for the bonds.

Summary

SB1339 authorizes the issuance of revenue bonds to finance the construction, improvement, and equipping of the University of Houston Multi-Cultural Studies and Classroom Complex. The bill grants the board of regents of the University of Houston System the authority to incur debt not to exceed $27 million for these purposes. This is intended to enhance educational infrastructure and support multicultural education initiatives at the university, thereby expanding its facilities and resources.

Contention

While the bill appears to have notable support for its educational goals, there could be contention regarding the source of the revenue pledged for bond repayment. Some stakeholders may express concern about the impact of increased tuition on students as the university allocates a portion of tuition revenues to secure the bonds. Additionally, discussions may arise concerning whether sufficient accountability measures are in place for the allocation of the funds raised from these bonds.

Further_details

The bill notably amends existing sections of the Texas Education Code to include this new bonding authority without requiring board approval for the specific acquisitions or improvements financed through these bonds, thus streamlining the process. This provision may help expedite necessary developments but could also raise questions among critics about oversight and fiscal responsibility regarding public funds.