S.B. No. 2131
AN ACT
relating to the application for and loans from the Texas military
value revolving loan account.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 436.054, Government Code, is amended by
amending Subsection (b) and adding Subsection (c) to read as
follows:
(b) The commission is a governmental body for purposes of
the open meetings law, Chapter 551. Except as otherwise provided by
Subsection (c), Chapter 551 applies to a meeting of the commission.
(c) The commission may allow for members' participation in a
meeting by telephone or other means of telecommunication or
electronic communication to consider an application for a loan from
the Texas military value revolving loan account. Any voting
conducted by telephone or other means of telecommunication or
electronic communication shall be subject to the same quorum
requirements of meetings where members are present in person.
SECTION 2. Subchapter D, Chapter 436, Government Code, is
amended by adding Section 436.1533 to read as follows:
Sec. 436.1533. USE OF LOAN PROCEEDS TO PAY OTHER DEBT
INCURRED TO FINANCE PROJECT. A defense community awarded a loan of
financial assistance from the Texas military value revolving loan
account for an eligible project under this subchapter may use a
portion of the loan proceeds to pay off other debt, including
commercial debt, the defense community incurred for purposes of
financing the project.
SECTION 3. Section 436.154(a), Government Code, is amended
to read as follows:
(a) The commission shall adopt rules, in consultation with
the Texas Public Finance Authority, that contain the criteria for
evaluating the credit of a loan applicant and the financial
feasibility of a project. The commission, in consultation with the
Texas Public Finance Authority, shall also adopt a loan application
form. The application form may include:
(1) the name of the defense community and its
principal officers;
(2) the total cost of the project;
(3) the amount of state financial assistance
requested;
(4) the plan for repaying the loan; and
(5) any other information the commission requires to
perform its duties and to protect the public interest.
SECTION 4. The Texas Military Preparedness Commission is
required to implement a provision of this Act only if the
legislature appropriates money specifically for that purpose. If
the legislature does not appropriate money specifically for that
purpose, the commission may, but is not required to, implement a
provision of this Act using other appropriations available for that
purpose.
SECTION 5. This Act takes effect September 1, 2019.
______________________________ ______________________________
President of the Senate Speaker of the House
I hereby certify that S.B. No. 2131 passed the Senate on
May 3, 2019, by the following vote: Yeas 30, Nays 1.
______________________________
Secretary of the Senate
I hereby certify that S.B. No. 2131 passed the House on
May 14, 2019, by the following vote: Yeas 138, Nays 3,
two present not voting.
______________________________
Chief Clerk of the House
Approved:
______________________________
Date
______________________________
Governor