| Old | New | Differences | |
|---|---|---|---|
| 1 | 1 | 89R10833 KJE-D | |
| 2 | 2 | By: Middleton S.B. No. 1382 | |
| 3 | 3 | ||
| 4 | 4 | ||
| 5 | 5 | ||
| 6 | 6 | ||
| 7 | 7 | A BILL TO BE ENTITLED | |
| 8 | 8 | AN ACT | |
| 9 | 9 | relating to the eligibility of certain school districts with | |
| 10 | 10 | outstanding debt for the guarantee of a bond by the permanent school | |
| 11 | 11 | fund. | |
| 12 | 12 | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | |
| 13 | 13 | SECTION 1. Subchapter C, Chapter 45, Education Code, is | |
| 14 | 14 | amended by adding Section 45.0542 to read as follows: | |
| 15 | 15 | Sec. 45.0542. ELIGIBILITY OF CERTAIN SCHOOL DISTRICTS WITH | |
| 16 | 16 | OUTSTANDING DEBT. The commissioner may approve the guarantee of a | |
| 17 | 17 | school district's eligible bonds under this subchapter only if the | |
| 18 | 18 | ratio of the total amount of the district's outstanding bonds to the | |
| 19 | 19 | number of students enrolled in the district is not more than $10,000 | |
| 20 | 20 | per student. | |
| 21 | 21 | SECTION 2. The change in law made by this Act applies only | |
| 22 | 22 | to the guarantee of a school district's bond under Subchapter C, | |
| 23 | 23 | Chapter 45, Education Code, as amended by this Act, that is issued | |
| 24 | 24 | on or after the effective date of this Act. The guarantee of a | |
| 25 | 25 | school district's bond under that subchapter that is issued before | |
| 26 | 26 | the effective date of this Act is governed by the law in effect on | |
| 27 | 27 | the date the bond was issued, and the former law is continued in | |
| 28 | 28 | effect for that purpose. | |
| 29 | 29 | SECTION 3. This Act takes effect September 1, 2025. |