By: Villarreal H.B. No. 134
A BILL TO BE ENTITLED
AN ACT
relating to authorizing the issuance of revenue bonds or other
obligations to fund capital projects at public institutions of
higher education; making an appropriation.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Subchapter B, Chapter 55, Education Code, is
amended by adding Sections 55.1781, and 55.1782 to read as follows:
Sec. 55.1781. THE TEXAS A&M UNIVERSITY SYSTEM; ADDITIONAL
BONDS. (a) In addition to the other authority granted by this
subchapter, the board of regents of The Texas A&M University System
may acquire, purchase, construct, improve, renovate, enlarge, or
equip facilities, including roads and related infrastructure, for
projects to be financed through the issuance of bonds in accordance
with this subchapter and in accordance with a systemwide revenue
financing program adopted by the board for the following
institutions and facilities not to exceed the following aggregate
principal amounts for the projects specified as follows:
(1) Texas A&M University--San Antonio, $70 million for
a classroom/library building.
(b) The board may pledge irrevocably to the payment of bonds
authorized by this section all or any part of the revenue funds of
an institution, branch, or entity of The Texas A&M University
System, including student tuition charges. The amount of a pledge
made under this subsection may not be reduced or abrogated while the
bonds for which the pledge is made, or bonds issued to refund those
bonds, are outstanding.
(c) If sufficient funds are not available to the board to
meet its obligations under this section, the board may transfer
funds among institutions, branches, and entities of The Texas A&M
University System to ensure the most equitable and efficient
allocation of available resources for each institution, branch, or
entity to carry out its duties and purposes.
Sec. 55.1782. THE UNIVERSITY OF TEXAS SYSTEM; ADDITIONAL
BONDS. (a) In addition to the other authority granted by this
subchapter, the board of regents of The University of Texas System
may acquire, purchase, construct, improve, renovate, enlarge, or
equip facilities, including roads and related infrastructure, for
projects to be financed through the issuance of bonds in accordance
with this subchapter and in accordance with a systemwide revenue
financing program adopted by the board for the following
institutions not to exceed the following aggregate principal
amounts for the projects specified as follows:
(1) The University of Texas at San Antonio, $92
million for an experimental science instructional building; and
(2) The University of Texas Health Science Center at
San Antonio, $61 million for an academic learning and teacher
center and a diabetes center.
(b) The board may pledge irrevocably to the payment of bonds
authorized by this section all or any part of the revenue funds of
an institution, branch, or entity of The University of Texas
System, including student tuition charges. The amount of a pledge
made under this subsection may not be reduced or abrogated while the
bonds for which the pledge is made, or bonds issued to refund those
bonds, are outstanding.
(c) If sufficient funds are not available to the board to
meet its obligations under this section, the board may transfer
funds among institutions, branches, and entities of The University
of Texas System to ensure the most equitable and efficient
allocation of available resources for each institution, branch, or
entity to carry out its duties and purposes.
SECTION 2. Section 61.0572(e), Education Code, is amended
to read as follows:
(e) Approval of the board is not required to acquire real
property that is financed by bonds issued under Section 55.17(e)(3)
or (4), 55.1713-55.1718, 55.1721-55.1728, 55.1735(a)(1), 55.174,
55.1742, 55.1743, [or] 55.1744, [or] 55.1751-55.17592, or
55.1781-55.1782 except that the board shall review all real
property to be financed by bonds issued under those sections to
determine whether the property meets the standards adopted by the
board for cost, efficiency, and space use. If the property does not
meet those standards, the board shall notify the governor, the
lieutenant governor, the speaker of the house of representatives,
and the Legislative Budget Board.
SECTION 3. Section 61.058(b), Education Code, is amended to
read as follows:
(b) This section does not apply to construction, repair, or
rehabilitation financed by bonds issued under Section 55.17(e)(3)
or (4), 55.1713-55.1718, 55.1721-55.1728, 55.174, 55.1742,
55.1743, 55.1744, [or] 55.1751-55.17592, or 55.1781-55.1782 except
that the board shall review all construction, repair, or
rehabilitation to be financed by bonds issued under those sections
to determine whether the construction, rehabilitation, or repair
meets the standards adopted by board rule for cost, efficiency, and
space use. If the construction, rehabilitation, or repair does not
meet those standards, the board shall notify the governor, the
lieutenant governor, the speaker of the house of representatives,
and the Legislative Budget Board.
SECTION 4. This Act does not affect any authority or
restriction regarding the activities that a public institution of
higher education may conduct in connection with a facility financed
by bonds authorized by this Act.
SECTION 5. 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 on the 91st day after the last day of the
legislative session.