| 2 | + | (In the Senate - Filed December 13, 2024; February 3, 2025, |
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| 3 | + | read 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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| 2 | 7 | | |
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| 3 | 8 | | |
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| 4 | 9 | | |
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| 5 | 10 | | |
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| 6 | 11 | | A BILL TO BE ENTITLED |
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| 7 | 12 | | AN ACT |
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| 8 | 13 | | relating to the posting of information regarding certain bonds |
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| 9 | 14 | | guaranteed by the permanent school fund. |
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| 10 | 15 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 11 | 16 | | SECTION 1. Subchapter C, Chapter 45, Education Code, is |
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| 12 | 17 | | amended by adding Section 45.0625 to read as follows: |
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| 13 | 18 | | Sec. 45.0625. POSTING OF DOWNGRADED RATINGS. (a) Not later |
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| 14 | 19 | | than the first day of each quarter of the state fiscal year, the |
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| 15 | 20 | | Texas Permanent School Fund Corporation shall post on the |
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| 16 | 21 | | corporation's Internet website a list of each existing bond |
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| 17 | 22 | | guaranteed under this subchapter that has been downgraded to a |
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| 18 | 23 | | speculative bond rating. |
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| 19 | 24 | | (b) The list must include: |
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| 20 | 25 | | (1) the name of the school district or charter |
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| 21 | 26 | | district that issued the bond; and |
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| 22 | 27 | | (2) the bond's outstanding balance. |
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| 23 | 28 | | SECTION 2. Not later than December 1, 2025, the Texas |
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| 24 | 29 | | Permanent School Fund Corporation shall post the initial list |
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| 25 | 30 | | required by Section 45.0625, Education Code, as added by this Act. |
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| 26 | 31 | | SECTION 3. This Act takes effect September 1, 2025. |
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