86R5208 SOS-D
By: Seliger S.B. No. 505
A BILL TO BE ENTITLED
AN ACT
relating to authorizing the issuance of revenue bonds to fund
capital projects at public institutions of higher education; making
an appropriation.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Subchapter B, Chapter 55, Education Code, is
amended by adding Sections 55.1791, 55.1792, 55.1793, 55.1794,
55.1795, 55.1796, 55.1797, 55.1798, and 55.1799 to read as follows:
Sec. 55.1791. THE TEXAS A&M UNIVERSITY SYSTEM; ADDITIONAL
BONDS. (a) In addition to the other authority granted by this
subchapter, the board of regents of The Texas A&M University System
may acquire, purchase, construct, improve, renovate, enlarge, or
equip property and facilities, including roads and related
infrastructure, for projects to be financed through the issuance of
bonds in accordance with this subchapter and in accordance with a
systemwide revenue financing program adopted by the board for the
following institutions, not to exceed the following aggregate
principal amounts for the projects specified, as follows:
(1) Prairie View A&M University:
(A) $60 million for construction of an
engineering classroom and research building; and
(B) $48 million for construction of a
multipurpose educational and event facility;
(2) Tarleton State University:
(A) $72 million for construction of an
agriculture and natural resources building; and
(B) $70 million for construction of the Tarleton
State University Building 2 located in Fort Worth, a physical
plant, and campus infrastructure;
(3) Texas A&M University, $85 million for construction
of an instructional lab and innovative learning facility;
(4) Texas A&M University--Central Texas, $25 million
for construction of a central utility plant;
(5) Texas A&M University--Commerce, $49.5 million for
construction of an agricultural multipurpose education and
training center;
(6) Texas A&M University--Corpus Christi, $58.5
million for construction of an arts and media building;
(7) Texas A&M University at Galveston, $58,349,500 for
construction of an immersive scholarship and learning environment
building, a central plant, and campus infrastructure;
(8) Texas A&M International University:
(A) $9 million for renovation of and additions to
fine and performing arts instructional and support spaces; and
(B) $75 million for construction of a student
classroom and events center;
(9) Texas A&M University--Kingsville, $65 million for
construction of a STEM health professions workforce development
complex;
(10) Texas A&M University--San Antonio, $53 million
for construction of an academic and library building;
(11) Texas A&M University--Texarkana, $46 million for
construction of a business, engineering, and technology building;
(12) West Texas A&M University:
(A) $28.5 million for capital improvements for
life and fire safety and fire compliance issues; and
(B) $20 million for renovation of the education
building; and
(13) The Texas A&M University System Health Science
Center, $100 million for construction of the Texas Medical Center
Building 3.
(b) The board may pledge irrevocably to the payment of bonds
authorized by this section all or any part of the revenue funds of
an institution, branch, or entity of The Texas A&M University
System, including student tuition charges. The amount of a pledge
made under this subsection may not be reduced or abrogated while the
bonds for which the pledge is made, or bonds issued to refund those
bonds, are outstanding.
(c) If sufficient funds are not available to the board to
meet its obligations under this section, the board may transfer
funds among institutions, branches, and entities of The Texas A&M
University System to ensure the most equitable and efficient
allocation of available resources for each institution, branch, or
entity to carry out its duties and purposes.
Sec. 55.1792. THE UNIVERSITY OF TEXAS SYSTEM; ADDITIONAL
BONDS. (a) In addition to the other authority granted by this
subchapter, the board of regents of The University of Texas System
may acquire, purchase, construct, improve, renovate, enlarge, or
equip property and facilities, including roads and related
infrastructure, for projects to be financed through the issuance of
bonds in accordance with this subchapter and in accordance with a
systemwide revenue financing program adopted by the board for the
following institutions, not to exceed the following aggregate
principal amounts for the projects specified, as follows:
(1) The University of Texas at Arlington, $60,800,000
for construction of a social work and college of nursing academy
building;
(2) The University of Texas at Austin, $100 million
for restoration of the J.T. Patterson Labs building;
(3) The University of Texas at Dallas:
(A) $120 million for a joint project with The
University of Texas Southwestern Medical Center at Dallas for
construction of a translational biomedical engineering and science
building; and
(B) $85 million for construction of a student
success center;
(4) The University of Texas at El Paso, $113 million
for construction of an advanced teaching and learning complex;
(5) The University of Texas of the Permian Basin, $40
million for improvement and renovation of the Mesa building;
(6) The University of Texas--Rio Grande Valley, $70
million for construction of a health affairs building;
(7) The University of Texas at San Antonio,
$126,250,000 for construction of a college of business building for
the downtown campus;
(8) The University of Texas at Tyler, $50 million for
construction of a college of nursing and health science building;
(9) The University of Texas Health Science Center at
Houston, $200 million for a joint project with The University of
Texas M. D. Anderson Cancer Center for construction of a research
building;
(10) The University of Texas Health Science Center at
San Antonio, $82 million for construction of the Glenn Biggs
Institute for Alzheimer's & Neurodegenerative Diseases building;
(11) The University of Texas Health Science Center at
Tyler, $18.5 million for construction of a proposed capital
project;
(12) The University of Texas M. D. Anderson Cancer
Center, $200 million for a joint project with The University of
Texas Health Science Center at Houston for construction of a
research building;
(13) The University of Texas Medical Branch at
Galveston, $157 million for construction of facilities; and
(14) The University of Texas Southwestern Medical
Center at Dallas, $120 million for a joint project with The
University of Texas at Dallas for construction of a translational
biomedical engineering and science building.
(b) The board may pledge irrevocably to the payment of bonds
authorized by this section all or any part of the revenue funds of
an institution, branch, or entity of The University of Texas
System, including student tuition charges. The amount of a pledge
made under this subsection may not be reduced or abrogated while the
bonds for which the pledge is made, or bonds issued to refund those
bonds, are outstanding.
(c) If sufficient funds are not available to the board to
meet its obligations under this section, the board may transfer
funds among institutions, branches, and entities of The University
of Texas System to ensure the most equitable and efficient
allocation of available resources for each institution, branch, or
entity to carry out its duties and purposes.
Sec. 55.1793. UNIVERSITY OF HOUSTON SYSTEM; ADDITIONAL
BONDS. (a) In addition to the other authority granted by this
subchapter, the board of regents of the University of Houston
System may acquire, purchase, construct, improve, renovate,
enlarge, or equip property and facilities, including roads and
related infrastructure, for projects to be financed through the
issuance of bonds in accordance with this subchapter and in
accordance with a systemwide revenue financing program adopted by
the board for the following institutions, not to exceed the
following aggregate principal amounts for the projects specified,
as follows:
(1) the University of Houston, $60 million for
construction of a law center building;
(2) the University of Houston--Clear Lake, $56 million
for Phase II of the STEM and classroom building construction;
(3) the University of Houston--Downtown, $110 million
for construction of an arts, sciences, engineering, and
entrepreneurship center; and
(4) the University of Houston--Victoria, $74,700,000
for campus expansion.
(b) The board may pledge irrevocably to the payment of bonds
authorized by this section all or any part of the revenue funds of
an institution, branch, or entity of the University of Houston
System, including student tuition charges. The amount of a pledge
made under this subsection may not be reduced or abrogated while the
bonds for which the pledge is made, or bonds issued to refund those
bonds, are outstanding.
(c) If sufficient funds are not available to the board to
meet its obligations under this section, the board may transfer
funds among institutions, branches, and entities of the University
of Houston System to ensure the most equitable and efficient
allocation of available resources for each institution, branch, or
entity to carry out its duties and purposes.
Sec. 55.1794. TEXAS STATE UNIVERSITY SYSTEM; ADDITIONAL
BONDS. (a) In addition to the other authority granted by this
subchapter, the board of regents of the Texas State University
System may acquire, purchase, construct, improve, renovate,
enlarge, or equip property and facilities, including roads and
related infrastructure, for projects to be financed through the
issuance of bonds in accordance with this subchapter and in
accordance with a systemwide revenue financing program adopted by
the board for the following institutions, not to exceed the
following aggregate principal amounts for the projects specified,
as follows:
(1) Lamar University, $45 million for construction of
the Lamar University Digital Learning Center;
(2) Lamar State College--Orange, $32 million for
construction of an academic building;
(3) Lamar State College--Port Arthur:
(A) $1,012,500 for construction of a workforce
training center; and
(B) $20 million for construction of a proposed
capital project;
(4) Lamar Institute of Technology:
(A) $1.1 million for construction of a
professional truck driving academy building; and
(B) $20 million for construction of a workforce
training center;
(5) Sam Houston State University, $70 million for
construction of an allied health building;
(6) Sul Ross State University, $25,550,000 for
expansion of the fine arts facility;
(7) Sul Ross State University-Rio Grande College, $20
million for a proposed capital project for educational
opportunities located in Eagle Pass, Texas; and
(8) Texas State University:
(A) $125 million for construction of a STEM
classroom building located in San Marcos, Texas; and
(B) $75 million for construction of a health
professions building located in Round Rock, Texas.
(b) The board may pledge irrevocably to the payment of bonds
authorized by this section all or any part of the revenue funds of
an institution, branch, or entity of the Texas State University
System, including student tuition charges. The amount of a pledge
made under this subsection may not be reduced or abrogated while the
bonds for which the pledge is made, or bonds issued to refund those
bonds, are outstanding.
(c) If sufficient funds are not available to the board to
meet its obligations under this section, the board may transfer
funds among institutions, branches, and entities of the Texas State
University System to ensure the most equitable and efficient
allocation of available resources for each institution, branch, or
entity to carry out its duties and purposes.
Sec. 55.1795. UNIVERSITY OF NORTH TEXAS SYSTEM; ADDITIONAL
BONDS. (a) In addition to the other authority granted by this
subchapter, the board of regents of the University of North Texas
System may acquire, purchase, construct, improve, renovate,
enlarge, or equip property and facilities, including roads and
related infrastructure, for projects to be financed through the
issuance of bonds in accordance with this subchapter and in
accordance with a systemwide revenue financing program adopted by
the board for the following institutions, not to exceed the
following aggregate principal amounts for the projects specified,
as follows:
(1) the University of North Texas, $126 million for
construction of a science and technology research building;
(2) the University of North Texas at Dallas, $92
million for construction of a STEM building; and
(3) the University of North Texas Health Science
Center at Fort Worth, $115.5 million for construction of an
academic building.
(b) The board may pledge irrevocably to the payment of bonds
authorized by this section all or any part of the revenue funds of
an institution, branch, or entity of the University of North Texas
System, including student tuition charges. The amount of a pledge
made under this subsection may not be reduced or abrogated while the
bonds for which the pledge is made, or bonds issued to refund those
bonds, are outstanding.
(c) If sufficient funds are not available to the board to
meet its obligations under this section, the board may transfer
funds among institutions, branches, and entities of the University
of North Texas System to ensure the most equitable and efficient
allocation of available resources for each institution, branch, or
entity to carry out its duties and purposes.
Sec. 55.1796. TEXAS WOMAN'S UNIVERSITY; ADDITIONAL BONDS.
(a) In addition to the other authority granted by this subchapter,
the board of regents of Texas Woman's University may acquire,
purchase, construct, improve, renovate, enlarge, or equip property
and facilities, including roads and related infrastructure, for a
health sciences center, to be financed through the issuance of
bonds in accordance with this subchapter, not to exceed the
aggregate principal amount of $105 million.
(b) The board may pledge irrevocably to the payment of bonds
authorized by this section all or any part of the revenue funds of
Texas Woman's University, including student tuition charges. The
amount of a pledge made under this subsection may not be reduced or
abrogated while the bonds for which the pledge is made, or bonds
issued to refund those bonds, are outstanding.
Sec. 55.1797. MIDWESTERN STATE UNIVERSITY; ADDITIONAL
BONDS. (a) In addition to the other authority granted by this
subchapter, the board of regents of Midwestern State University may
acquire, purchase, construct, improve, renovate, enlarge, or equip
property and facilities, including roads and related
infrastructure, for infrastructure upgrades, to be financed
through the issuance of bonds in accordance with this subchapter,
not to exceed the aggregate principal amount of $10 million.
(b) The board may pledge irrevocably to the payment of bonds
authorized by this section all or any part of the revenue funds of
Midwestern State University, including student tuition charges.
The amount of a pledge made under this subsection may not be reduced
or abrogated while the bonds for which the pledge is made, or bonds
issued to refund those bonds, are outstanding.
Sec. 55.1798. STEPHEN F. AUSTIN STATE UNIVERSITY;
ADDITIONAL BONDS. (a) In addition to the other authority granted
by this subchapter, the board of regents of Stephen F. Austin State
University may acquire, purchase, construct, improve, renovate,
enlarge, or equip property and facilities, including roads and
related infrastructure, for a natural science and innovations
laboratory, to be financed through the issuance of bonds in
accordance with this subchapter, not to exceed the aggregate
principal amount of $48 million.
(b) The board may pledge irrevocably to the payment of bonds
authorized by this section all or any part of the revenue funds of
Stephen F. Austin State University, including student tuition
charges. The amount of a pledge made under this subsection may not
be reduced or abrogated while the bonds for which the pledge is
made, or bonds issued to refund those bonds, are outstanding.
Sec. 55.1799. TEXAS TECH UNIVERSITY SYSTEM; ADDITIONAL
BONDS. (a) In addition to the other authority granted by this
subchapter, the board of regents of the Texas Tech University
System may acquire, purchase, construct, improve, renovate,
enlarge, or equip property and facilities, including roads and
related infrastructure, for projects to be financed through the
issuance of bonds in accordance with this subchapter and in
accordance with a systemwide revenue financing program adopted by
the board for the following institutions, not to exceed the
following aggregate principal amounts for the projects specified,
as follows:
(1) Angelo State University, $22.5 million for
construction of an art building;
(2) Texas Tech University, $118,080,000 for
construction of a facility;
(3) Texas Tech University Health Sciences Center,
$34,650,000 for expansion of the academic and clinic building
located in Amarillo, Texas; and
(4) Texas Tech University Health Sciences Center at El
Paso, $92,349,000 for construction of a dental school building.
(b) The board may pledge irrevocably to the payment of bonds
authorized by this section all or any part of the revenue funds of
an institution, branch, or entity of the Texas Tech University
System, including student tuition charges. The amount of a pledge
made under this subsection may not be reduced or abrogated while the
bonds for which the pledge is made, or bonds issued to refund those
bonds, are outstanding.
(c) If sufficient funds are not available to the board to
meet its obligations under this section, the board may transfer
funds among institutions, branches, and entities of the Texas Tech
University System to ensure the most equitable and efficient
allocation of available resources for each institution, branch, or
entity to carry out its duties and purposes.
SECTION 2. This Act does not affect any authority or
restriction regarding the activities that a public institution of
higher education may conduct in connection with a facility financed
by bonds authorized by this Act.
SECTION 3. (a) The amount of $3,964,841,000 is
appropriated out of the economic stabilization fund to the
comptroller of public accounts for the state fiscal biennium ending
August 31, 2021, for distribution to institutions of higher
education and university systems for debt service on revenue bonds
authorized by this Act. This subsection takes effect only if this
Act receives a vote of two-thirds of the members present in each
house of the legislature, as provided by Section 49-g(m), Article
III, Texas Constitution. If this Act does not receive a vote of
two-thirds of the members present in each house of the legislature,
this subsection does not take effect.
(b) This subsection takes effect only if Subsection (a) of
this section does not take effect. The amount of $3,964,841,000 is
appropriated out of the general revenue fund to the comptroller of
public accounts for the state fiscal biennium ending August 31,
2021, for distribution to institutions of higher education and
university systems for debt service on revenue bonds authorized by
this Act.
(c) The comptroller shall distribute a portion of the amount
appropriated by Subsection (a) or (b) of this section, as
applicable, to each institution of higher education or university
system, as applicable, in accordance with calculations made by the
Legislative Budget Board of each institution's or system's
proportionate share of the amount appropriated based on the amount
of revenue bonds authorized by this Act for each institution or
system.
(d) The Legislative Budget Board shall make the initial
calculations under this section and notify the comptroller and the
applicable institutions of higher education and university systems
of the respective shares to be distributed under this section as
soon as practicable. The Legislative Budget Board may make
adjustments to those calculations and provide a final determination
of those shares.
SECTION 4. Except as provided by Sections 3(a) and (b) of
this Act, this Act takes effect September 1, 2019.