Texas Senate Bill SB73

Texas 2011 - 82nd Regular

• Out of Senate Committee: 3/31/11
• Introduced: 11/8/10
• Voted on by Senate: 4/5/11
• Refer: 1/31/11
• Report Pass: 3/31/11
• Engrossed: 4/5/11
• Report Pass: 5/13/11

Caption

Relating to debt issuance authority of and funding for the Cancer Prevention and Research Institute of Texas.

Impact

The changes introduced by SB73 specifically amend sections of the Texas Government Code and Health and Safety Code to facilitate the timely and efficient funding of cancer research projects. This is expected to bolster the state's efforts in combating cancer by ensuring consistent financial backing, enabling institutions to pursue extensive multi-year research initiatives. Such funding structures could potentially lead to breakthroughs in cancer treatment and prevention, thereby positively affecting public health outcomes in Texas.

Summary

SB73 aims to enhance the funding and financing mechanisms for the Cancer Prevention and Research Institute of Texas (CPRIT) by granting authority for the issuance of debt for multiyear cancer-related projects. This bill allows the Oversight Committee at CPRIT to approve and certify the necessary obligations required for funding these projects, ensuring that funds can be distributed promptly once the bonds are issued. The new provisions are specifically designed to streamline the funding process for significant long-term cancer research initiatives within the state.

Contention

Despite its potential benefits, SB73 sparked discussions regarding its financial implications and the management of public funds. Critics raised concerns about the state's approach to financing, particularly the reliance on debt issuance. There are apprehensions that accumulating debt for research funding could divert resources from other vital areas of healthcare or public services if not carefully monitored. Additionally, the critics emphasized the need for transparency and accountability in how the funds issued via these bonds are utilized, advocating for clear mechanisms to assess the effectiveness of the funded projects.