By: Hinojosa S.B. No. 2209
(In the Senate - Filed March 13, 2009; March 31, 2009, read
first time and referred to Committee on Intergovernmental
Relations; May 7, 2009, reported adversely, with favorable
Committee Substitute by the following vote: Yeas 4, Nays 0;
May 7, 2009, sent to printer.)
COMMITTEE SUBSTITUTE FOR S.B. No. 2209 By: Gallegos
A BILL TO BE ENTITLED
AN ACT
relating to applications regarding the issuance of private activity
bonds by certain governmental entities for projects with multiple
sites.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 1372.002, Government Code, is amended by
amending Subsection (a) and adding Subsection (e) to read as
follows:
(a) For purposes of this chapter, a project is:
(1) an eligible facility or facilities that are
proposed to be financed, in whole or in part, by an issue of
qualified residential rental project bonds;
(2) in connection with an issue of qualified mortgage
bonds or qualified student loan bonds, the providing of financial
assistance to qualified mortgagors or students located in all or
any part of the jurisdiction of the issuer; or
(3) an eligible facility or facilities that are [is]
proposed to be financed, in whole or in part, by an issue of bonds
other than bonds described by Subdivision (1) or (2).
(e) For purposes of Subsection (a)(3), and only for
applications for the financing of sewage facilities, solid waste
disposal facilities, and qualified hazardous waste facilities, an
application under this chapter may include multiple facilities in
multiple jurisdictions. In such an application, the number of
facilities may be reduced as needed without affecting their status
as a project for purposes of the application.
SECTION 2. Subsection (a), Section 1372.006, Government
Code, is amended to read as follows:
(a) An application for a reservation under Subchapter B or a
carryforward designation under Subchapter C must be accompanied by
a nonrefundable fee in the amount of $500, except that:
(1) for projects that include multiple facilities
authorized under Section 1372.002(e), the application must be
accompanied by a nonrefundable fee in an amount of $500 for each
facility included in the application for the project; and
(2) for issuers of qualified residential rental
project bonds the application must be accompanied by a
nonrefundable fee of $5,000, of which the board shall retain $1,000
to offset the costs of the private activity bond allocation program
and the administration of that program and of which the board shall
transfer $4,000 through an interagency agreement to the Texas
Department of Housing and Community Affairs for use in the
affordable housing research and information program as provided by
Section 2306.259.
SECTION 3. 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, 2009.
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