Texas 2021 - 87th Regular

Texas Senate Bill SB2230 Compare Versions

Version 1 (Old)

Version 2 (New)

Old	New		Differences
1		-	S.B. No. 2230
	1	+	87R27613 SRA-F
	2	+	By: Schwertner S.B. No. 2230
	3	+	(Capriglione)
	4	+	Substitute the following for S.B. No. 2230: No.
2	5
3	6
	7	+	A BILL TO BE ENTITLED
4	8		AN ACT
5	9		relating to the acquisition of real property or construction of
6	10		buildings for the purpose of operating the Texas Bullion
7	11		Depository.
8	12		BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
9	13		SECTION 1. Subchapter C, Chapter 1232, Government Code, is
10	14		amended by adding Section 1232.1026 to read as follows:
11	15		Sec. 1232.1026. ISSUANCE OF BONDS FOR TEXAS BULLION
12	16		DEPOSITORY BUILDINGS. (a) The board may issue and sell bonds in
13	17		the name of the authority to finance the acquisition or
14	18		construction of buildings to be used to operate the Texas Bullion
15	19		Depository, including the acquisition of real property for that
16	20		purpose.
17	21		(b) The comptroller shall accomplish its statutory
18	22		authority as if the property or building acquired or constructed
19	23		under this section were funded by legislative appropriation. The
20	24		board and the comptroller shall adopt a memorandum of understanding
21	25		that defines the division of authority between the board and
22	26		comptroller regarding the property or building.
23	27		(c) To accomplish the bond financing of the acquisition or
24	28		construction of property or a building under this section, the
25	29		comptroller shall contract with the authority to purchase the
26	30		property or building from the authority under a lease-to-purchase
27	31		agreement or other comparable financing agreement, as determined by
28	32		the board and the comptroller to be in the best interest of the
29	33		state.
30	34		SECTION 2. Chapter 2116, Government Code, is amended by
31	35		adding Subchapter C to read as follows:
32	36		SUBCHAPTER C. ACQUISITION OF REAL PROPERTY FOR DEPOSITORY
33	37		Sec. 2116.071. ACQUISITION OF REAL PROPERTY. The
34	38		comptroller, by purchase, lease, donation, or other means, may
35	39		acquire real property necessary for one or more buildings to
36	40		operate the depository.
37	41		Sec. 2116.072. PURCHASE OF BUILDING SUBJECT TO EXISTING
38	42		LEASES. The comptroller may:
39	43		(1) acquire a building that is subject to a lease by a
40	44		private tenant and may continue or renew a lease for the building if
41	45		the comptroller determines that doing so is advantageous to this
42	46		state; and
43	47		(2) renegotiate the terms of a lease described by
44	48		Subdivision (1) to obtain terms that are more favorable to this
45	49		state.
46	50		Sec. 2116.073. LEASING PROPERTY AND USE OF LEASE PROCEEDS.
47	51		(a) The comptroller may lease at fair market value any portion of a
48	52		property acquired under this subchapter to a private tenant for
49	53		commercial activities.
50	54		(b) Money received by the comptroller under a lease of
51	55		property acquired under this subchapter may be used by the
52	56		comptroller to:
53	57		(1) repay obligations issued under Section 1232.1026
54	58		and used to acquire the property or construct the building; or
55	59		(2) make payments under a lease-to-purchase agreement
56	60		or other comparable financing agreement between the comptroller and
57	61		the Texas Public Finance Authority.
58	62		Sec. 2116.074. TITLE TO AND CONTROL OF REAL PROPERTY. The
59	63		comptroller, subject to the lease-to-purchase agreement or other
60	64		comparable financing agreement executed under Section 1232.1026,
61	65		shall obtain in the name of this state title to any real property
62	66		acquired or building constructed under this subchapter and retain
63	67		control of that real property.
64	68		Sec. 2116.075. BORROWING MONEY; ISSUING AND SELLING BONDS.
65	69		(a) The comptroller may borrow money in the amount and under the
66	70		circumstances authorized by the legislature and may request the
67	71		Texas Public Finance Authority, on behalf of the comptroller, to
68	72		issue and sell bonds to acquire real property or construct a
69	73		building to operate the depository.
70	74		(b) The Texas Public Finance Authority may issue and sell
71	75		bonds for the purposes of Subsection (a) in any manner and on such
72	76		terms the authority determines to be in the best interest of the
73	77		comptroller, subject to the requirements of Chapter 1202.
74	78		SECTION 3. This Act takes effect immediately if it receives
75	79		a vote of two-thirds of all the members elected to each house, as
76	80		provided by Section 39, Article III, Texas Constitution. If this
77	81		Act does not receive the vote necessary for immediate effect, this
78	82		Act takes effect September 1, 2021.
79		-	______________________________ ______________________________
80		-	President of the Senate Speaker of the House
81		-	I hereby certify that S.B. No. 2230 passed the Senate on
82		-	May 14, 2021, by the following vote: Yeas 28, Nays 2; and that the
83		-	Senate concurred in House amendment on May 29, 2021, by the
84		-	following vote: Yeas 29, Nays 2.
85		-	______________________________
86		-	Secretary of the Senate
87		-	I hereby certify that S.B. No. 2230 passed the House, with
88		-	amendment, on May 26, 2021, by the following vote: Yeas 126,
89		-	Nays 21, two present not voting.
90		-	______________________________
91		-	Chief Clerk of the House
92		-	Approved:
93		-	______________________________
94		-	Date
95		-	______________________________
96		-	Governor