By: West S.B. No. 604
A BILL TO BE ENTITLED
AN ACT
relating to the posting of information regarding certain bonds
guaranteed 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 45.0625 to read as follows:
Sec. 45.0625. POSTING OF DOWNGRADED RATINGS. (a) Not later
than the first day of each quarter of the state fiscal year, the
Texas Permanent School Fund Corporation shall post on the
corporation's Internet website a list of each existing bond
guaranteed under this subchapter that has been downgraded to a
speculative bond rating.
(b) The list must include:
(1) the name of the school district or charter
district that issued the bond; and
(2) the bond's outstanding balance.
SECTION 2. Not later than December 1, 2025, the Texas
Permanent School Fund Corporation shall post the initial list
required by Section 45.0625, Education Code, as added by this Act.
SECTION 3. This Act takes effect September 1, 2025.