By: King of Parker (Senate Sponsor - Estes) H.B. No. 2474
(In the Senate - Received from the House May 6, 2013;
May 7, 2013, read first time and referred to Committee on Higher
Education; May 17, 2013, reported favorably by the following vote:
Yeas 6, Nays 0; May 17, 2013, sent to printer.)
A BILL TO BE ENTITLED
AN ACT
relating to taxes and bonds for a junior college district branch
campus.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Subchapter E, Chapter 130, Education Code, is
amended by adding Section 130.0865 to read as follows:
Sec. 130.0865. SECURITY FOR REVENUE BONDS ISSUED FOR BRANCH
CAMPUS, CENTER, OR EXTENSION FACILITY. Bonds payable from revenue
and issued by the governing body of a county or school district to
finance the purchase of land or the construction of a facility to be
used for a branch campus, center, or extension facility authorized
under Section 130.086 may be secured by a trust indenture, a deed of
trust, or a mortgage granting a security interest in the applicable
land or facility.
SECTION 2. Section 130.087(k), Education Code, is amended
to read as follows:
(k) The proceeds of the junior college district branch
campus maintenance tax may be used only as follows:
(1) to operate and maintain a junior college district
branch campus and [to] support its programs and services in the area
of the political subdivision [a jurisdiction] that levied the
[levies a junior college district branch campus maintenance] tax;
and
(2) under an agreement by the applicable junior
college district and the political subdivision levying the tax, to
make lease payments to the political subdivision for facilities
used exclusively by the branch campus that are owned by the
political subdivision [to operate, maintain, and support the same
junior college district branch campus].
SECTION 3. (a) The change in law made by this Act in adding
Section 130.0865, Education Code, applies only to a bond issued on
or after the effective date of this Act. A bond issued before the
effective date of this Act is governed by the law in effect at the
time the bond was issued, and the former law is continued in effect
for that purpose.
(b) The change in law made by this Act in amending Section
130.087, Education Code, applies to the proceeds of a junior
college district branch campus maintenance tax levied under Section
130.087, Education Code, without regard to whether imposition of
the tax was approved by the voters or the proceeds were derived from
taxes imposed before, on, or after the effective date of this Act.
SECTION 4. 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, 2013.
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