BILL ANALYSIS S.B. 754 By: Perry Public Education Committee Report (Unamended) BACKGROUND AND PURPOSE Interested parties note that while an independent school district is able to extend a two-year contract with its depository bank two times, no changes to the contract may be made without beginning the process of executing a new contract. S.B. 754 seeks to allow districts to extend depository contracts for an additional two-year term and to allow the contracts to be modified. CRIMINAL JUSTICE IMPACT It is the committee's opinion that this bill does not expressly create a criminal offense, increase the punishment for an existing criminal offense or category of offenses, or change the eligibility of a person for community supervision, parole, or mandatory supervision. RULEMAKING AUTHORITY It is the committee's opinion that this bill does not expressly grant any additional rulemaking authority to a state officer, department, agency, or institution. ANALYSIS S.B. 754 amends the Education Code to increase from two to three the number of additional two-year terms for which an independent school district and the district's depository bank may agree to extend a depository contract and to authorize the contract to be modified for each two-year extension if both parties mutually agree to the terms. EFFECTIVE DATE September 1, 2017.
BILL ANALYSIS
# BILL ANALYSIS
S.B. 754
By: Perry
Public Education
Committee Report (Unamended)
S.B. 754
By: Perry
Public Education
Committee Report (Unamended)
BACKGROUND AND PURPOSE Interested parties note that while an independent school district is able to extend a two-year contract with its depository bank two times, no changes to the contract may be made without beginning the process of executing a new contract. S.B. 754 seeks to allow districts to extend depository contracts for an additional two-year term and to allow the contracts to be modified.
CRIMINAL JUSTICE IMPACT It is the committee's opinion that this bill does not expressly create a criminal offense, increase the punishment for an existing criminal offense or category of offenses, or change the eligibility of a person for community supervision, parole, or mandatory supervision.
RULEMAKING AUTHORITY It is the committee's opinion that this bill does not expressly grant any additional rulemaking authority to a state officer, department, agency, or institution.
ANALYSIS S.B. 754 amends the Education Code to increase from two to three the number of additional two-year terms for which an independent school district and the district's depository bank may agree to extend a depository contract and to authorize the contract to be modified for each two-year extension if both parties mutually agree to the terms.
EFFECTIVE DATE September 1, 2017.
BACKGROUND AND PURPOSE
Interested parties note that while an independent school district is able to extend a two-year contract with its depository bank two times, no changes to the contract may be made without beginning the process of executing a new contract. S.B. 754 seeks to allow districts to extend depository contracts for an additional two-year term and to allow the contracts to be modified.
CRIMINAL JUSTICE IMPACT
It is the committee's opinion that this bill does not expressly create a criminal offense, increase the punishment for an existing criminal offense or category of offenses, or change the eligibility of a person for community supervision, parole, or mandatory supervision.
RULEMAKING AUTHORITY
It is the committee's opinion that this bill does not expressly grant any additional rulemaking authority to a state officer, department, agency, or institution.
ANALYSIS
S.B. 754 amends the Education Code to increase from two to three the number of additional two-year terms for which an independent school district and the district's depository bank may agree to extend a depository contract and to authorize the contract to be modified for each two-year extension if both parties mutually agree to the terms.
EFFECTIVE DATE
September 1, 2017.