| 3 | 5 | | |
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| 4 | 6 | | |
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| 5 | 7 | | A BILL TO BE ENTITLED |
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| 6 | 8 | | AN ACT |
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| 7 | 9 | | relating to a biennial report on state lending and credit support |
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| 8 | 10 | | programs. |
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| 9 | 11 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 10 | 12 | | SECTION 1. Subchapter D, Chapter 1231, Government Code, is |
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| 11 | 13 | | amended by adding Section 1231.064 to read as follows: |
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| 12 | 14 | | Sec. 1231.064. BIENNIAL REPORT ON STATE LENDING AND CREDIT |
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| 13 | 15 | | SUPPORT PROGRAMS. (a) In this section: |
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| 14 | 16 | | (1) "Credit support program" means a program under |
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| 15 | 17 | | which the state guarantees or provides credit enhancements for the |
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| 16 | 18 | | debt of any public or private entity, including providing support |
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| 17 | 19 | | for interest or principal payments, in a manner that obligates this |
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| 18 | 20 | | state to pay any part of the principal or interest on that debt if |
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| 19 | 21 | | the entity defaults. |
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| 20 | 22 | | (2) "Lending program" means a program through which |
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| 21 | 23 | | state money is loaned, or otherwise provided with the expectation |
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| 22 | 24 | | of repayment, to a public or private entity. |
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| 23 | 25 | | (b) Not later than December 31 of each even-numbered year, |
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| 24 | 26 | | the board shall submit to the legislature and post on the board's |
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| 25 | 27 | | Internet website a report on all lending programs and credit |
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| 26 | 28 | | support programs in this state. The report must include: |
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| 27 | 29 | | (1) the total amount of state money lent through |
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| 28 | 30 | | lending programs; |
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| 29 | 31 | | (2) the total amount of debt supported by credit |
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| 30 | 32 | | support programs; and |
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| 31 | 33 | | (3) for each lending program or credit support |
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| 32 | 34 | | program: |
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| 33 | 35 | | (A) the total amount of state money lent through |
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| 34 | 36 | | or debt supported by the program, as applicable; |
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| 35 | 37 | | (B) a citation to the law authorizing the |
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| 36 | 38 | | program; and |
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| 37 | 39 | | (C) a reasonable estimate of the costs of default |
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| 38 | 40 | | associated with the program, computed in accordance with |
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| 39 | 41 | | private-sector accounting standards for credit or other losses. |
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| 40 | 42 | | (c) A state agency or political subdivision of this state |
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| 41 | 43 | | shall provide to the board in the manner provided by board rule any |
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| 42 | 44 | | information necessary for the board to prepare the report required |
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| 43 | 45 | | by this section. |
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| 44 | 46 | | SECTION 2. This Act takes effect September 1, 2021. |
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