| 1 | | - | By: Creighton, Hall S.B. No. 2395 |
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| 2 | | - | (In the Senate - Filed March 12, 2025; March 25, 2025, read |
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| 3 | | - | first time and referred to Committee on Education K-16; |
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| 4 | | - | April 14, 2025, reported favorably by the following vote: Yeas 10, |
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| 5 | | - | Nays 0; April 14, 2025, sent to printer.) |
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| 6 | | - | Click here to see the committee vote |
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| 1 | + | 89R15973 AMF-D |
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| 2 | + | By: Creighton S.B. No. 2395 |
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| 7 | 3 | | |
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| 8 | 4 | | |
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| 9 | 5 | | |
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| 10 | 6 | | |
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| 11 | 7 | | A BILL TO BE ENTITLED |
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| 12 | 8 | | AN ACT |
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| 13 | 9 | | relating to general obligation bonds issued by school districts. |
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| 14 | 10 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 15 | 11 | | SECTION 1. Section 45.1105(a), Education Code, is amended |
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| 16 | 12 | | to read as follows: |
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| 17 | 13 | | (a) A school district may use the unspent proceeds of issued |
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| 18 | 14 | | general obligation bonds only: |
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| 19 | 15 | | (1) for the specific purposes for which the bonds were |
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| 20 | 16 | | authorized; or |
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| 21 | 17 | | (2) to retire the bonds[; or |
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| 22 | 18 | | [(3) for a purpose other than the specific purposes |
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| 23 | 19 | | for which the bonds were authorized if: |
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| 24 | 20 | | [(A) the specific purposes are accomplished or |
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| 25 | 21 | | abandoned; and |
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| 26 | 22 | | [(B) the board of trustees at a public meeting |
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| 27 | 23 | | held only for the purpose of considering the use of the unspent bond |
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| 28 | 24 | | proceeds approves in separate votes the use of the proceeds for: |
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| 29 | 25 | | [(i) a purpose other than to retire the |
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| 30 | 26 | | bonds; and |
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| 31 | 27 | | [(ii) the purpose specified at the time the |
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| 32 | 28 | | vote is taken]. |
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| 33 | 29 | | SECTION 2. Sections 45.1105(b) and (c), Education Code, are |
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| 34 | 30 | | repealed. |
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| 35 | 31 | | SECTION 3. This Act applies only to a general obligation |
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| 36 | 32 | | bond authorized to be issued at an election held on or after the |
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| 37 | 33 | | effective date of this Act. |
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| 38 | 34 | | SECTION 4. This Act takes effect September 1, 2025. |
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