| 1 | 1 | | By: King of Hemphill, Fallon H.B. No. 878 |
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| 2 | 2 | | (Senate Sponsor - Perry) |
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| 3 | 3 | | (In the Senate - Received from the House April 18, 2017; |
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| 4 | 4 | | May 1, 2017, read first time and referred to Committee on |
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| 5 | 5 | | Education; May 16, 2017, reported adversely, with favorable |
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| 6 | 6 | | Committee Substitute by the following vote: Yeas 11, Nays 0; |
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| 7 | 7 | | May 16, 2017, sent to printer.) |
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| 8 | 8 | | Click here to see the committee vote |
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| 9 | 9 | | COMMITTEE SUBSTITUTE FOR H.B. No. 878 By: Hughes |
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| 10 | 10 | | |
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| 11 | 11 | | |
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| 12 | 12 | | A BILL TO BE ENTITLED |
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| 13 | 13 | | AN ACT |
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| 14 | 14 | | relating to the extension and modification of a public school |
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| 15 | 15 | | district depository contract. |
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| 16 | 16 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 17 | 17 | | SECTION 1. Section 45.205(b), Education Code, is amended to |
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| 18 | 18 | | read as follows: |
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| 19 | 19 | | (b) A school district and the district's depository bank may |
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| 20 | 20 | | agree to extend a depository contract for three [two] additional |
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| 21 | 21 | | two-year terms. The contract may be modified for each two-year |
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| 22 | 22 | | extension if both parties mutually agree to the terms. An extension |
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| 23 | 23 | | under this subsection is not subject to the requirements of Section |
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| 24 | 24 | | 45.206. |
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| 25 | 25 | | SECTION 2. This Act takes effect September 1, 2017. |
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| 26 | 26 | | * * * * * |
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