89R10833 KJE-D
By: Middleton S.B. No. 1382
A BILL TO BE ENTITLED
AN ACT
relating to the eligibility of certain school districts with
outstanding debt for the guarantee of a bond by the permanent school
fund.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Subchapter C, Chapter 45, Education Code, is
amended by adding Section 45.0542 to read as follows:
Sec. 45.0542. ELIGIBILITY OF CERTAIN SCHOOL DISTRICTS WITH
OUTSTANDING DEBT. The commissioner may approve the guarantee of a
school district's eligible bonds under this subchapter only if the
ratio of the total amount of the district's outstanding bonds to the
number of students enrolled in the district is not more than $10,000
per student.
SECTION 2. The change in law made by this Act applies only
to the guarantee of a school district's bond under Subchapter C,
Chapter 45, Education Code, as amended by this Act, that is issued
on or after the effective date of this Act. The guarantee of a
school district's bond under that subchapter that is issued before
the effective date of this Act is governed by the law in effect on
the date the bond was issued, and the former law is continued in
effect for that purpose.
SECTION 3. This Act takes effect September 1, 2025.