84R17565 CAE-F
By: Parker H.B. No. 2851
A BILL TO BE ENTITLED
AN ACT
relating to the limitation on the liability of the nonprofit
corporation established by the Texas Public Finance Authority to
issue revenue bonds for open-enrollment charter schools to provide
educational facilities.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 53.351(b), Education Code, is amended to
read as follows:
(b) The Texas Public Finance Authority shall appoint the
directors of the corporation in consultation with the commissioner
of education and subject to the approval of the
governor. Directors serve without compensation but are entitled
to reimbursement for travel expenses incurred in attending board
meetings. The board shall meet at least once a year.
SECTION 2. Subchapter C, Chapter 53, Education Code, is
amended by adding Section 53.352 to read as follows:
Sec. 53.352. LIMITATION ON LIABILITY OF CORPORATION. A
director, officer, or employee of the nonprofit corporation
established by the Texas Public Finance Authority under Section
53.351 is not personally liable:
(1) for damage, loss, or injury resulting from the
performance of the person's duties under Section 53.351; or
(2) on any commitment or agreement executed on behalf
of the corporation under Section 53.351.
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, 2015.