By: Murphy H.B. No. 3018
A BILL TO BE ENTITLED
AN ACT
relating to the guarantee of charter district bonds by the
permanent school fund.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Sections 45.0532(a) and (b), Education Code, are
amended to read as follows:
(a) In addition to the general limitation under Section
45.053, the commissioner may not approve charter district bonds for
guarantee under this subchapter in a total amount that exceeds the
percentage of the total [available] capacity of the guaranteed bond
program that is equal to the percentage of the number of students
enrolled in open-enrollment charter schools in this state compared
to the total number of students enrolled in all public schools in
this state, as determined by the commissioner.
(b) For purposes of Subsection (a), the total [available]
capacity of the guaranteed bond program is the limit established by
the board under Sections 45.053(d) and 45.0531 [minus the total
amount of outstanding guaranteed bonds]. Each time the board
increases the limit under Section 45.053(d), the total amount of
charter district bonds that may be guaranteed increases accordingly
under Subsection (a).
SECTION 2. This Act applies only to a bond issued, refunded,
or refinanced on or after the effective date of this Act by an
open-enrollment charter school designated as a charter district
under Section 12.135, Education Code. A bond issued, refunded, or
refinanced before the effective date of this Act by an
open-
enrollment charter school designated as a charter district is
governed by the law in effect immediately before that date, and that
law is continued in effect for that purpose.
SECTION 3. This Act takes effect September 1, 2015.