Texas 2019 - 86th Regular

Texas Senate Bill SB505 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	86R5208 SOS-D
2	2	By: Seliger S.B. No. 505
3	3
4	4
5	5	A BILL TO BE ENTITLED
6	6	AN ACT
7	7	relating to authorizing the issuance of revenue bonds to fund
8	8	capital projects at public institutions of higher education; making
9	9	an appropriation.
10	10	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
11	11	SECTION 1. Subchapter B, Chapter 55, Education Code, is
12	12	amended by adding Sections 55.1791, 55.1792, 55.1793, 55.1794,
13	13	55.1795, 55.1796, 55.1797, 55.1798, and 55.1799 to read as follows:
14	14	Sec. 55.1791. THE TEXAS A&M UNIVERSITY SYSTEM; ADDITIONAL
15	15	BONDS. (a) In addition to the other authority granted by this
16	16	subchapter, the board of regents of The Texas A&M University System
17	17	may acquire, purchase, construct, improve, renovate, enlarge, or
18	18	equip property and facilities, including roads and related
19	19	infrastructure, for projects to be financed through the issuance of
20	20	bonds in accordance with this subchapter and in accordance with a
21	21	systemwide revenue financing program adopted by the board for the
22	22	following institutions, not to exceed the following aggregate
23	23	principal amounts for the projects specified, as follows:
24	24	(1) Prairie View A&M University:
25	25	(A) $60 million for construction of an
26	26	engineering classroom and research building; and
27	27	(B) $48 million for construction of a
28	28	multipurpose educational and event facility;
29	29	(2) Tarleton State University:
30	30	(A) $72 million for construction of an
31	31	agriculture and natural resources building; and
32	32	(B) $70 million for construction of the Tarleton
33	33	State University Building 2 located in Fort Worth, a physical
34	34	plant, and campus infrastructure;
35	35	(3) Texas A&M University, $85 million for construction
36	36	of an instructional lab and innovative learning facility;
37	37	(4) Texas A&M University--Central Texas, $25 million
38	38	for construction of a central utility plant;
39	39	(5) Texas A&M University--Commerce, $49.5 million for
40	40	construction of an agricultural multipurpose education and
41	41	training center;
42	42	(6) Texas A&M University--Corpus Christi, $58.5
43	43	million for construction of an arts and media building;
44	44	(7) Texas A&M University at Galveston, $58,349,500 for
45	45	construction of an immersive scholarship and learning environment
46	46	building, a central plant, and campus infrastructure;
47	47	(8) Texas A&M International University:
48	48	(A) $9 million for renovation of and additions to
49	49	fine and performing arts instructional and support spaces; and
50	50	(B) $75 million for construction of a student
51	51	classroom and events center;
52	52	(9) Texas A&M University--Kingsville, $65 million for
53	53	construction of a STEM health professions workforce development
54	54	complex;
55	55	(10) Texas A&M University--San Antonio, $53 million
56	56	for construction of an academic and library building;
57	57	(11) Texas A&M University--Texarkana, $46 million for
58	58	construction of a business, engineering, and technology building;
59	59	(12) West Texas A&M University:
60	60	(A) $28.5 million for capital improvements for
61	61	life and fire safety and fire compliance issues; and
62	62	(B) $20 million for renovation of the education
63	63	building; and
64	64	(13) The Texas A&M University System Health Science
65	65	Center, $100 million for construction of the Texas Medical Center
66	66	Building 3.
67	67	(b) The board may pledge irrevocably to the payment of bonds
68	68	authorized by this section all or any part of the revenue funds of
69	69	an institution, branch, or entity of The Texas A&M University
70	70	System, including student tuition charges. The amount of a pledge
71	71	made under this subsection may not be reduced or abrogated while the
72	72	bonds for which the pledge is made, or bonds issued to refund those
73	73	bonds, are outstanding.
74	74	(c) If sufficient funds are not available to the board to
75	75	meet its obligations under this section, the board may transfer
76	76	funds among institutions, branches, and entities of The Texas A&M
77	77	University System to ensure the most equitable and efficient
78	78	allocation of available resources for each institution, branch, or
79	79	entity to carry out its duties and purposes.
80	80	Sec. 55.1792. THE UNIVERSITY OF TEXAS SYSTEM; ADDITIONAL
81	81	BONDS. (a) In addition to the other authority granted by this
82	82	subchapter, the board of regents of The University of Texas System
83	83	may acquire, purchase, construct, improve, renovate, enlarge, or
84	84	equip property and facilities, including roads and related
85	85	infrastructure, for projects to be financed through the issuance of
86	86	bonds in accordance with this subchapter and in accordance with a
87	87	systemwide revenue financing program adopted by the board for the
88	88	following institutions, not to exceed the following aggregate
89	89	principal amounts for the projects specified, as follows:
90	90	(1) The University of Texas at Arlington, $60,800,000
91	91	for construction of a social work and college of nursing academy
92	92	building;
93	93	(2) The University of Texas at Austin, $100 million
94	94	for restoration of the J.T. Patterson Labs building;
95	95	(3) The University of Texas at Dallas:
96	96	(A) $120 million for a joint project with The
97	97	University of Texas Southwestern Medical Center at Dallas for
98	98	construction of a translational biomedical engineering and science
99	99	building; and
100	100	(B) $85 million for construction of a student
101	101	success center;
102	102	(4) The University of Texas at El Paso, $113 million
103	103	for construction of an advanced teaching and learning complex;
104	104	(5) The University of Texas of the Permian Basin, $40
105	105	million for improvement and renovation of the Mesa building;
106	106	(6) The University of Texas--Rio Grande Valley, $70
107	107	million for construction of a health affairs building;
108	108	(7) The University of Texas at San Antonio,
109	109	$126,250,000 for construction of a college of business building for
110	110	the downtown campus;
111	111	(8) The University of Texas at Tyler, $50 million for
112	112	construction of a college of nursing and health science building;
113	113	(9) The University of Texas Health Science Center at
114	114	Houston, $200 million for a joint project with The University of
115	115	Texas M. D. Anderson Cancer Center for construction of a research
116	116	building;
117	117	(10) The University of Texas Health Science Center at
118	118	San Antonio, $82 million for construction of the Glenn Biggs
119	119	Institute for Alzheimer's & Neurodegenerative Diseases building;
120	120	(11) The University of Texas Health Science Center at
121	121	Tyler, $18.5 million for construction of a proposed capital
122	122	project;
123	123	(12) The University of Texas M. D. Anderson Cancer
124	124	Center, $200 million for a joint project with The University of
125	125	Texas Health Science Center at Houston for construction of a
126	126	research building;
127	127	(13) The University of Texas Medical Branch at
128	128	Galveston, $157 million for construction of facilities; and
129	129	(14) The University of Texas Southwestern Medical
130	130	Center at Dallas, $120 million for a joint project with The
131	131	University of Texas at Dallas for construction of a translational
132	132	biomedical engineering and science building.
133	133	(b) The board may pledge irrevocably to the payment of bonds
134	134	authorized by this section all or any part of the revenue funds of
135	135	an institution, branch, or entity of The University of Texas
136	136	System, including student tuition charges. The amount of a pledge
137	137	made under this subsection may not be reduced or abrogated while the
138	138	bonds for which the pledge is made, or bonds issued to refund those
139	139	bonds, are outstanding.
140	140	(c) If sufficient funds are not available to the board to
141	141	meet its obligations under this section, the board may transfer
142	142	funds among institutions, branches, and entities of The University
143	143	of Texas System to ensure the most equitable and efficient
144	144	allocation of available resources for each institution, branch, or
145	145	entity to carry out its duties and purposes.
146	146	Sec. 55.1793. UNIVERSITY OF HOUSTON SYSTEM; ADDITIONAL
147	147	BONDS. (a) In addition to the other authority granted by this
148	148	subchapter, the board of regents of the University of Houston
149	149	System may acquire, purchase, construct, improve, renovate,
150	150	enlarge, or equip property and facilities, including roads and
151	151	related infrastructure, for projects to be financed through the
152	152	issuance of bonds in accordance with this subchapter and in
153	153	accordance with a systemwide revenue financing program adopted by
154	154	the board for the following institutions, not to exceed the
155	155	following aggregate principal amounts for the projects specified,
156	156	as follows:
157	157	(1) the University of Houston, $60 million for
158	158	construction of a law center building;
159	159	(2) the University of Houston--Clear Lake, $56 million
160	160	for Phase II of the STEM and classroom building construction;
161	161	(3) the University of Houston--Downtown, $110 million
162	162	for construction of an arts, sciences, engineering, and
163	163	entrepreneurship center; and
164	164	(4) the University of Houston--Victoria, $74,700,000
165	165	for campus expansion.
166	166	(b) The board may pledge irrevocably to the payment of bonds
167	167	authorized by this section all or any part of the revenue funds of
168	168	an institution, branch, or entity of the University of Houston
169	169	System, including student tuition charges. The amount of a pledge
170	170	made under this subsection may not be reduced or abrogated while the
171	171	bonds for which the pledge is made, or bonds issued to refund those
172	172	bonds, are outstanding.
173	173	(c) If sufficient funds are not available to the board to
174	174	meet its obligations under this section, the board may transfer
175	175	funds among institutions, branches, and entities of the University
176	176	of Houston System to ensure the most equitable and efficient
177	177	allocation of available resources for each institution, branch, or
178	178	entity to carry out its duties and purposes.
179	179	Sec. 55.1794. TEXAS STATE UNIVERSITY SYSTEM; ADDITIONAL
180	180	BONDS. (a) In addition to the other authority granted by this
181	181	subchapter, the board of regents of the Texas State University
182	182	System may acquire, purchase, construct, improve, renovate,
183	183	enlarge, or equip property and facilities, including roads and
184	184	related infrastructure, for projects to be financed through the
185	185	issuance of bonds in accordance with this subchapter and in
186	186	accordance with a systemwide revenue financing program adopted by
187	187	the board for the following institutions, not to exceed the
188	188	following aggregate principal amounts for the projects specified,
189	189	as follows:
190	190	(1) Lamar University, $45 million for construction of
191	191	the Lamar University Digital Learning Center;
192	192	(2) Lamar State College--Orange, $32 million for
193	193	construction of an academic building;
194	194	(3) Lamar State College--Port Arthur:
195	195	(A) $1,012,500 for construction of a workforce
196	196	training center; and
197	197	(B) $20 million for construction of a proposed
198	198	capital project;
199	199	(4) Lamar Institute of Technology:
200	200	(A) $1.1 million for construction of a
201	201	professional truck driving academy building; and
202	202	(B) $20 million for construction of a workforce
203	203	training center;
204	204	(5) Sam Houston State University, $70 million for
205	205	construction of an allied health building;
206	206	(6) Sul Ross State University, $25,550,000 for
207	207	expansion of the fine arts facility;
208	208	(7) Sul Ross State University-Rio Grande College, $20
209	209	million for a proposed capital project for educational
210	210	opportunities located in Eagle Pass, Texas; and
211	211	(8) Texas State University:
212	212	(A) $125 million for construction of a STEM
213	213	classroom building located in San Marcos, Texas; and
214	214	(B) $75 million for construction of a health
215	215	professions building located in Round Rock, Texas.
216	216	(b) The board may pledge irrevocably to the payment of bonds
217	217	authorized by this section all or any part of the revenue funds of
218	218	an institution, branch, or entity of the Texas State University
219	219	System, including student tuition charges. The amount of a pledge
220	220	made under this subsection may not be reduced or abrogated while the
221	221	bonds for which the pledge is made, or bonds issued to refund those
222	222	bonds, are outstanding.
223	223	(c) If sufficient funds are not available to the board to
224	224	meet its obligations under this section, the board may transfer
225	225	funds among institutions, branches, and entities of the Texas State
226	226	University System to ensure the most equitable and efficient
227	227	allocation of available resources for each institution, branch, or
228	228	entity to carry out its duties and purposes.
229	229	Sec. 55.1795. UNIVERSITY OF NORTH TEXAS SYSTEM; ADDITIONAL
230	230	BONDS. (a) In addition to the other authority granted by this
231	231	subchapter, the board of regents of the University of North Texas
232	232	System may acquire, purchase, construct, improve, renovate,
233	233	enlarge, or equip property and facilities, including roads and
234	234	related infrastructure, for projects to be financed through the
235	235	issuance of bonds in accordance with this subchapter and in
236	236	accordance with a systemwide revenue financing program adopted by
237	237	the board for the following institutions, not to exceed the
238	238	following aggregate principal amounts for the projects specified,
239	239	as follows:
240	240	(1) the University of North Texas, $126 million for
241	241	construction of a science and technology research building;
242	242	(2) the University of North Texas at Dallas, $92
243	243	million for construction of a STEM building; and
244	244	(3) the University of North Texas Health Science
245	245	Center at Fort Worth, $115.5 million for construction of an
246	246	academic building.
247	247	(b) The board may pledge irrevocably to the payment of bonds
248	248	authorized by this section all or any part of the revenue funds of
249	249	an institution, branch, or entity of the University of North Texas
250	250	System, including student tuition charges. The amount of a pledge
251	251	made under this subsection may not be reduced or abrogated while the
252	252	bonds for which the pledge is made, or bonds issued to refund those
253	253	bonds, are outstanding.
254	254	(c) If sufficient funds are not available to the board to
255	255	meet its obligations under this section, the board may transfer
256	256	funds among institutions, branches, and entities of the University
257	257	of North Texas System to ensure the most equitable and efficient
258	258	allocation of available resources for each institution, branch, or
259	259	entity to carry out its duties and purposes.
260	260	Sec. 55.1796. TEXAS WOMAN'S UNIVERSITY; ADDITIONAL BONDS.
261	261	(a) In addition to the other authority granted by this subchapter,
262	262	the board of regents of Texas Woman's University may acquire,
263	263	purchase, construct, improve, renovate, enlarge, or equip property
264	264	and facilities, including roads and related infrastructure, for a
265	265	health sciences center, to be financed through the issuance of
266	266	bonds in accordance with this subchapter, not to exceed the
267	267	aggregate principal amount of $105 million.
268	268	(b) The board may pledge irrevocably to the payment of bonds
269	269	authorized by this section all or any part of the revenue funds of
270	270	Texas Woman's University, including student tuition charges. The
271	271	amount of a pledge made under this subsection may not be reduced or
272	272	abrogated while the bonds for which the pledge is made, or bonds
273	273	issued to refund those bonds, are outstanding.
274	274	Sec. 55.1797. MIDWESTERN STATE UNIVERSITY; ADDITIONAL
275	275	BONDS. (a) In addition to the other authority granted by this
276	276	subchapter, the board of regents of Midwestern State University may
277	277	acquire, purchase, construct, improve, renovate, enlarge, or equip
278	278	property and facilities, including roads and related
279	279	infrastructure, for infrastructure upgrades, to be financed
280	280	through the issuance of bonds in accordance with this subchapter,
281	281	not to exceed the aggregate principal amount of $10 million.
282	282	(b) The board may pledge irrevocably to the payment of bonds
283	283	authorized by this section all or any part of the revenue funds of
284	284	Midwestern State University, including student tuition charges.
285	285	The amount of a pledge made under this subsection may not be reduced
286	286	or abrogated while the bonds for which the pledge is made, or bonds
287	287	issued to refund those bonds, are outstanding.
288	288	Sec. 55.1798. STEPHEN F. AUSTIN STATE UNIVERSITY;
289	289	ADDITIONAL BONDS. (a) In addition to the other authority granted
290	290	by this subchapter, the board of regents of Stephen F. Austin State
291	291	University may acquire, purchase, construct, improve, renovate,
292	292	enlarge, or equip property and facilities, including roads and
293	293	related infrastructure, for a natural science and innovations
294	294	laboratory, to be financed through the issuance of bonds in
295	295	accordance with this subchapter, not to exceed the aggregate
296	296	principal amount of $48 million.
297	297	(b) The board may pledge irrevocably to the payment of bonds
298	298	authorized by this section all or any part of the revenue funds of
299	299	Stephen F. Austin State University, including student tuition
300	300	charges. The amount of a pledge made under this subsection may not
301	301	be reduced or abrogated while the bonds for which the pledge is
302	302	made, or bonds issued to refund those bonds, are outstanding.
303	303	Sec. 55.1799. TEXAS TECH UNIVERSITY SYSTEM; ADDITIONAL
304	304	BONDS. (a) In addition to the other authority granted by this
305	305	subchapter, the board of regents of the Texas Tech University
306	306	System may acquire, purchase, construct, improve, renovate,
307	307	enlarge, or equip property and facilities, including roads and
308	308	related infrastructure, for projects to be financed through the
309	309	issuance of bonds in accordance with this subchapter and in
310	310	accordance with a systemwide revenue financing program adopted by
311	311	the board for the following institutions, not to exceed the
312	312	following aggregate principal amounts for the projects specified,
313	313	as follows:
314	314	(1) Angelo State University, $22.5 million for
315	315	construction of an art building;
316	316	(2) Texas Tech University, $118,080,000 for
317	317	construction of a facility;
318	318	(3) Texas Tech University Health Sciences Center,
319	319	$34,650,000 for expansion of the academic and clinic building
320	320	located in Amarillo, Texas; and
321	321	(4) Texas Tech University Health Sciences Center at El
322	322	Paso, $92,349,000 for construction of a dental school building.
323	323	(b) The board may pledge irrevocably to the payment of bonds
324	324	authorized by this section all or any part of the revenue funds of
325	325	an institution, branch, or entity of the Texas Tech University
326	326	System, including student tuition charges. The amount of a pledge
327	327	made under this subsection may not be reduced or abrogated while the
328	328	bonds for which the pledge is made, or bonds issued to refund those
329	329	bonds, are outstanding.
330	330	(c) If sufficient funds are not available to the board to
331	331	meet its obligations under this section, the board may transfer
332	332	funds among institutions, branches, and entities of the Texas Tech
333	333	University System to ensure the most equitable and efficient
334	334	allocation of available resources for each institution, branch, or
335	335	entity to carry out its duties and purposes.
336	336	SECTION 2. This Act does not affect any authority or
337	337	restriction regarding the activities that a public institution of
338	338	higher education may conduct in connection with a facility financed
339	339	by bonds authorized by this Act.
340	340	SECTION 3. (a) The amount of $3,964,841,000 is
341	341	appropriated out of the economic stabilization fund to the
342	342	comptroller of public accounts for the state fiscal biennium ending
343	343	August 31, 2021, for distribution to institutions of higher
344	344	education and university systems for debt service on revenue bonds
345	345	authorized by this Act. This subsection takes effect only if this
346	346	Act receives a vote of two-thirds of the members present in each
347	347	house of the legislature, as provided by Section 49-g(m), Article
348	348	III, Texas Constitution. If this Act does not receive a vote of
349	349	two-thirds of the members present in each house of the legislature,
350	350	this subsection does not take effect.
351	351	(b) This subsection takes effect only if Subsection (a) of
352	352	this section does not take effect. The amount of $3,964,841,000 is
353	353	appropriated out of the general revenue fund to the comptroller of
354	354	public accounts for the state fiscal biennium ending August 31,
355	355	2021, for distribution to institutions of higher education and
356	356	university systems for debt service on revenue bonds authorized by
357	357	this Act.
358	358	(c) The comptroller shall distribute a portion of the amount
359	359	appropriated by Subsection (a) or (b) of this section, as
360	360	applicable, to each institution of higher education or university
361	361	system, as applicable, in accordance with calculations made by the
362	362	Legislative Budget Board of each institution's or system's
363	363	proportionate share of the amount appropriated based on the amount
364	364	of revenue bonds authorized by this Act for each institution or
365	365	system.
366	366	(d) The Legislative Budget Board shall make the initial
367	367	calculations under this section and notify the comptroller and the
368	368	applicable institutions of higher education and university systems
369	369	of the respective shares to be distributed under this section as
370	370	soon as practicable. The Legislative Budget Board may make
371	371	adjustments to those calculations and provide a final determination
372	372	of those shares.
373	373	SECTION 4. Except as provided by Sections 3(a) and (b) of
374	374	this Act, this Act takes effect September 1, 2019.