Texas 2019 - 86th Regular

Texas Senate Bill SB2131 Compare Versions

Version 1 (Old)

Version 2 (New)

Old	New		Differences
1		-	S.B. No. 2131
	1	+	By: Powell, et al. S.B. No. 2131
	2	+	(Cortez)
2	3
3	4
	5	+	A BILL TO BE ENTITLED
4	6		AN ACT
5	7		relating to the application for and loans from the Texas military
6	8		value revolving loan account.
7	9		BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
8	10		SECTION 1. Section 436.054, Government Code, is amended by
9	11		amending Subsection (b) and adding Subsection (c) to read as
10	12		follows:
11	13		(b) The commission is a governmental body for purposes of
12	14		the open meetings law, Chapter 551. Except as otherwise provided by
13	15		Subsection (c), Chapter 551 applies to a meeting of the commission.
14	16		(c) The commission may allow for members' participation in a
15	17		meeting by telephone or other means of telecommunication or
16	18		electronic communication to consider an application for a loan from
17	19		the Texas military value revolving loan account. Any voting
18	20		conducted by telephone or other means of telecommunication or
19	21		electronic communication shall be subject to the same quorum
20	22		requirements of meetings where members are present in person.
21	23		SECTION 2. Subchapter D, Chapter 436, Government Code, is
22	24		amended by adding Section 436.1533 to read as follows:
23	25		Sec. 436.1533. USE OF LOAN PROCEEDS TO PAY OTHER DEBT
24	26		INCURRED TO FINANCE PROJECT. A defense community awarded a loan of
25	27		financial assistance from the Texas military value revolving loan
26	28		account for an eligible project under this subchapter may use a
27	29		portion of the loan proceeds to pay off other debt, including
28	30		commercial debt, the defense community incurred for purposes of
29	31		financing the project.
30	32		SECTION 3. Section 436.154(a), Government Code, is amended
31	33		to read as follows:
32	34		(a) The commission shall adopt rules, in consultation with
33	35		the Texas Public Finance Authority, that contain the criteria for
34	36		evaluating the credit of a loan applicant and the financial
35	37		feasibility of a project. The commission, in consultation with the
36	38		Texas Public Finance Authority, shall also adopt a loan application
37	39		form. The application form may include:
38	40		(1) the name of the defense community and its
39	41		principal officers;
40	42		(2) the total cost of the project;
41	43		(3) the amount of state financial assistance
42	44		requested;
43	45		(4) the plan for repaying the loan; and
44	46		(5) any other information the commission requires to
45	47		perform its duties and to protect the public interest.
46	48		SECTION 4. The Texas Military Preparedness Commission is
47	49		required to implement a provision of this Act only if the
48	50		legislature appropriates money specifically for that purpose. If
49	51		the legislature does not appropriate money specifically for that
50	52		purpose, the commission may, but is not required to, implement a
51	53		provision of this Act using other appropriations available for that
52	54		purpose.
53	55		SECTION 5. This Act takes effect September 1, 2019.
54		-	______________________________ ______________________________
55		-	President of the Senate Speaker of the House
56		-	I hereby certify that S.B. No. 2131 passed the Senate on
57		-	May 3, 2019, by the following vote: Yeas 30, Nays 1.
58		-	______________________________
59		-	Secretary of the Senate
60		-	I hereby certify that S.B. No. 2131 passed the House on
61		-	May 14, 2019, by the following vote: Yeas 138, Nays 3,
62		-	two present not voting.
63		-	______________________________
64		-	Chief Clerk of the House
65		-	Approved:
66		-	______________________________
67		-	Date
68		-	______________________________
69		-	Governor