Bill Text: TX HB1530 | 2021-2022 | 87th Legislature | Introduced
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Relating to authorizing the issuance of revenue bonds to fund capital projects at public institutions of higher education.
Spectrum: Slight Partisan Bill (Republican 8-3)
Status: (Engrossed - Dead) 2021-05-17 - Referred to Higher Education [HB1530 Detail]
Download: Texas-2021-HB1530-Introduced.html
Bill Title: Relating to authorizing the issuance of revenue bonds to fund capital projects at public institutions of higher education.
Spectrum: Slight Partisan Bill (Republican 8-3)
Status: (Engrossed - Dead) 2021-05-17 - Referred to Higher Education [HB1530 Detail]
Download: Texas-2021-HB1530-Introduced.html
By: Murphy | H.B. No. 1530 |
|
||
|
||
relating to authorizing the issuance of revenue bonds to fund | ||
capital projects at certain public institutions of higher | ||
education. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Subchapter B, Chapter 55, Education Code, is | ||
amended by adding Sections 55.1791, 55.1792, 55.1793, 55.1794, | ||
55.1795, 55.1796, 55.1797, 55.1798, 55.1799, 55.17991, and | ||
55.17992 to read as follows: | ||
Sec. 55.1791. THE TEXAS A&M UNIVERSITY SYSTEM; ADDITIONAL | ||
BONDS. (a) In addition to the other authority granted by this | ||
subchapter, the board of regents of The Texas A&M University System | ||
may acquire, purchase, construct, improve, renovate, enlarge, or | ||
equip property and facilities, including roads and related | ||
infrastructure, for projects to be financed through the issuance of | ||
bonds in accordance with this subchapter and in accordance with a | ||
systemwide revenue financing program adopted by the board for the | ||
following institutions, not to exceed the following aggregate | ||
principal amounts for the projects specified, as follows: | ||
(1) Prairie View A&M University, $24 million ; | ||
(2) Tarleton State University, $52.8 million ; | ||
(3) Texas A&M University, $100 million ; | ||
(4) Texas A&M University--Central Texas, $20 million; | ||
(5) Texas A&M University--Commerce, $58 million ; | ||
(6) Texas A&M University--Corpus Christi $37 million; | ||
(7) Texas A&M University at Galveston, $18 million ; | ||
(8) Texas A&M International University, $32 | ||
million ; | ||
(9) Texas A&M University--Kingsville, $28 million ; | ||
(10) Texas A&M University--San Antonio, $30 million; | ||
(11) Texas A&M University--Texarkana, $18.4 million ; | ||
(12) West Texas A&M University, $26.3 million ;and | ||
(13) The Texas A&M University System Health Science | ||
Center, $56 million . | ||
(b) The board may pledge irrevocably to the payment of bonds | ||
authorized by this section all or any part of the revenue funds of | ||
an institution, branch, or entity of The Texas A&M University | ||
System, including student tuition charges. The amount of a pledge | ||
made under this subsection may not be reduced or abrogated while the | ||
bonds for which the pledge is made, or bonds issued to refund those | ||
bonds, are outstanding. | ||
(c) If sufficient funds are not available to the board to | ||
meet its obligations under this section, the board may transfer | ||
funds among institutions, branches, and entities of The Texas A&M | ||
University System to ensure the most equitable and efficient | ||
allocation of available resources for each institution, branch, or | ||
entity to carry out its duties and purposes. | ||
Sec. 55.1792. THE UNIVERSITY OF TEXAS SYSTEM; ADDITIONAL | ||
BONDS. (a) In addition to the other authority granted by this | ||
subchapter, the board of regents of The University of Texas System | ||
may acquire, purchase, construct, improve, renovate, enlarge, or | ||
equip property and facilities, including roads and related | ||
infrastructure, for projects to be financed through the issuance of | ||
bonds in accordance with this subchapter and in accordance with a | ||
systemwide revenue financing program adopted by the board for the | ||
following institutions, not to exceed the following aggregate | ||
principal amounts for the projects specified, as follows: | ||
(1) The University of Texas at Arlington, $53.6 | ||
million; | ||
(2) The University of Texas at Austin, $40 million ; | ||
(3) The University of Texas at Dallas, $34 million ; | ||
(4) The University of Texas at El Paso, $40 million; | ||
(5) The University of Texas of the Permian Basin, $ 28 | ||
million ; | ||
(6) The University of Texas--Rio Grande Valley, $30.4 | ||
million ; | ||
(7) The University of Texas at San Antonio, $64.5 | ||
million ; | ||
(8) The University of Texas at Tyler, $ 30.4 million | ||
; | ||
(9) The University of Texas Health Science Center at | ||
Houston, $54.4 million ; | ||
(10) The University of Texas Health Science Center at | ||
San Antonio, $44 million ; | ||
(11) The University of Texas Health Science Center at | ||
Tyler, $66 million ; | ||
(12) The University of Texas M. D. Anderson Cancer | ||
Center, $200 million; | ||
(13) The University of Texas Medical Branch at | ||
Galveston, $ 43,679,085.60 ; and | ||
(14) The University of Texas Southwestern Medical | ||
Center at Dallas, $221,567,008 . | ||
(b) The board may pledge irrevocably to the payment of bonds | ||
authorized by this section all or any part of the revenue funds of | ||
an institution, branch, or entity of The University of Texas | ||
System, including student tuition charges. The amount of a pledge | ||
made under this subsection may not be reduced or abrogated while the | ||
bonds for which the pledge is made, or bonds issued to refund those | ||
bonds, are outstanding. | ||
(c) If sufficient funds are not available to the board to | ||
meet its obligations under this section, the board may transfer | ||
funds among institutions, branches, and entities of The University | ||
of Texas System to ensure the most equitable and efficient | ||
allocation of available resources for each institution, branch, or | ||
entity to carry out its duties and purposes. | ||
Sec. 55.1793. UNIVERSITY OF HOUSTON SYSTEM; ADDITIONAL | ||
BONDS. (a) In addition to the other authority granted by this | ||
subchapter, the board of regents of the University of Houston | ||
System may acquire, purchase, construct, improve, renovate, | ||
enlarge, or equip property and facilities, including roads and | ||
related infrastructure, for projects to be financed through the | ||
issuance of bonds in accordance with this subchapter and in | ||
accordance with a systemwide revenue financing program adopted by | ||
the board for the following entity and institutions, not to exceed | ||
the following aggregate principal amounts for the projects | ||
specified, as follows: | ||
(1) the University of Houston System, $ 88.1 million | ||
; | ||
(2) the University of Houston, $ 89.7 million ; | ||
(3) the University of Houston--Clear Lake, $ 44.4 | ||
million ; | ||
(4) the University of Houston--Downtown, $ 34 million | ||
; and | ||
(5) the University of Houston--Victoria, $ | ||
57,027,177.60 . | ||
(b) The board may pledge irrevocably to the payment of bonds | ||
authorized by this section all or any part of the revenue funds of | ||
an institution, branch, or entity of the University of Houston | ||
System, including student tuition charges. The amount of a pledge | ||
made under this subsection may not be reduced or abrogated while the | ||
bonds for which the pledge is made, or bonds issued to refund those | ||
bonds, are outstanding. | ||
(c) If sufficient funds are not available to the board to | ||
meet its obligations under this section, the board may transfer | ||
funds among institutions, branches, and entities of the University | ||
of Houston System to ensure the most equitable and efficient | ||
allocation of available resources for each institution, branch, or | ||
entity to carry out its duties and purposes. | ||
Sec. 55.1794. TEXAS STATE UNIVERSITY SYSTEM; ADDITIONAL | ||
BONDS. (a) In addition to the other authority granted by this | ||
subchapter, the board of regents of the Texas State University | ||
System may acquire, purchase, construct, improve, renovate, | ||
enlarge, or equip property and facilities, including roads and | ||
related infrastructure, for projects to be financed through the | ||
issuance of bonds in accordance with this subchapter and in | ||
accordance with a systemwide revenue financing program adopted by | ||
the board for the following institutions, not to exceed the | ||
following aggregate principal amounts for the projects specified, | ||
as follows: | ||
(1) Lamar University, $ 30 million ; | ||
(2) Lamar State College--Orange, $16 million ; | ||
(3) Lamar State College--Port Arthur, $22 million ; | ||
(4) Lamar Institute of Technology, $ 20 million ; | ||
(5) Sam Houston State University, $ 52 million ; | ||
(6) Sul Ross State University, $ 14.1 million ; | ||
(7) Sul Ross State University Rio Grande College, | ||
$17,694,000 million ; and | ||
(8) Texas State University, $ 98 million . | ||
(b) The board may pledge irrevocably to the payment of bonds | ||
authorized by this section all or any part of the revenue funds of | ||
an institution, branch, or entity of the Texas State University | ||
System, including student tuition charges. The amount of a pledge | ||
made under this subsection may not be reduced or abrogated while the | ||
bonds for which the pledge is made, or bonds issued to refund those | ||
bonds, are outstanding. | ||
(c) If sufficient funds are not available to the board to | ||
meet its obligations under this section, the board may transfer | ||
funds among institutions, branches, and entities of the Texas State | ||
University System to ensure the most equitable and efficient | ||
allocation of available resources for each institution, branch, or | ||
entity to carry out its duties and purposes. | ||
Sec. 55.1795. UNIVERSITY OF NORTH TEXAS SYSTEM; ADDITIONAL | ||
BONDS. (a) In addition to the other authority granted by this | ||
subchapter, the board of regents of the University of North Texas | ||
System may acquire, purchase, construct, improve, renovate, | ||
enlarge, or equip property and facilities, including roads and | ||
related infrastructure, for projects to be financed through the | ||
issuance of bonds in accordance with this subchapter and in | ||
accordance with a systemwide revenue financing program adopted by | ||
the board for the following institutions, not to exceed the | ||
following aggregate principal amounts for the projects specified, | ||
as follows: | ||
(1) the University of North Texas, $ 84.4 million ; | ||
(2) the University of North Texas at Dallas, $ 65.2 | ||
million ; and | ||
(3) the University of North Texas Health Science | ||
Center at Fort Worth, $ 16.8 million . | ||
(b) The board may pledge irrevocably to the payment of bonds | ||
authorized by this section all or any part of the revenue funds of | ||
an institution, branch, or entity of the University of North Texas | ||
System, including student tuition charges. The amount of a pledge | ||
made under this subsection may not be reduced or abrogated while the | ||
bonds for which the pledge is made, or bonds issued to refund those | ||
bonds, are outstanding. | ||
(c) If sufficient funds are not available to the board to | ||
meet its obligations under this section, the board may transfer | ||
funds among institutions, branches, and entities of the University | ||
of North Texas System to ensure the most equitable and efficient | ||
allocation of available resources for each institution, branch, or | ||
entity to carry out its duties and purposes. | ||
Sec. 55.1796. TEXAS WOMAN'S UNIVERSITY; ADDITIONAL BONDS. | ||
(a) In addition to the other authority granted by this subchapter, | ||
the board of regents of Texas Woman's University may acquire, | ||
purchase, construct, improve, renovate, enlarge, or equip property | ||
and facilities, including roads and related infrastructure, for a | ||
health sciences center, to be financed through the issuance of | ||
bonds in accordance with this subchapter, not to exceed the | ||
aggregate principal amount of $ 43.2 million . | ||
(b) The board may pledge irrevocably to the payment of bonds | ||
authorized by this section all or any part of the revenue funds of | ||
Texas Woman's University, including student tuition charges. The | ||
amount of a pledge made under this subsection may not be reduced or | ||
abrogated while the bonds for which the pledge is made, or bonds | ||
issued to refund those bonds, are outstanding. | ||
Sec. 55.1797. MIDWESTERN STATE UNIVERSITY; ADDITIONAL | ||
BONDS. (a) In addition to the other authority granted by this | ||
subchapter, the board of regents of Midwestern State University may | ||
acquire, purchase, construct, improve, renovate, enlarge, or equip | ||
property and facilities, including roads and related | ||
infrastructure, for infrastructure upgrades, to be financed | ||
through the issuance of bonds in accordance with this subchapter, | ||
not to exceed the aggregate principal amount of $22 million . | ||
(b) The board may pledge irrevocably to the payment of bonds | ||
authorized by this section all or any part of the revenue funds of | ||
Midwestern State University, including student tuition charges. | ||
The amount of a pledge made under this subsection may not be reduced | ||
or abrogated while the bonds for which the pledge is made, or bonds | ||
issued to refund those bonds, are outstanding. | ||
Sec. 55.1798. STEPHEN F. AUSTIN STATE UNIVERSITY; | ||
ADDITIONAL BONDS. (a) In addition to the other authority granted by | ||
this subchapter, the board of regents of Stephen F. Austin State | ||
University may acquire, purchase, construct, improve, renovate, | ||
enlarge, or equip property and facilities, including roads and | ||
related infrastructure, for a natural resources science and | ||
innovations laboratory, to be financed through the issuance of | ||
bonds in accordance with this subchapter, not to exceed the | ||
aggregate principal amount of $39.2 million. | ||
(b) The board may pledge irrevocably to the payment of bonds | ||
authorized by this section all or any part of the revenue funds of | ||
Stephen F. Austin State University, including student tuition | ||
charges. The amount of a pledge made under this subsection may not | ||
be reduced or abrogated while the bonds for which the pledge is | ||
made, or bonds issued to refund those bonds, are outstanding. | ||
Sec. 55.1799. TEXAS TECH UNIVERSITY SYSTEM; ADDITIONAL | ||
BONDS. (a) In addition to the other authority granted by this | ||
subchapter, the board of regents of the Texas Tech University | ||
System may acquire, purchase, construct, improve, renovate, | ||
enlarge, or equip property and facilities, including roads and | ||
related infrastructure, for projects to be financed through the | ||
issuance of bonds in accordance with this subchapter and in | ||
accordance with a systemwide revenue financing program adopted by | ||
the board for the following institutions, not to exceed the | ||
following aggregate principal amounts for the projects specified, | ||
as follows: | ||
(1) Angelo State University, $ 16 million ; | ||
(2) Texas Tech University, $32 millon ; | ||
(3) Texas Tech University Health Sciences Center, $ 40 | ||
million . | ||
(4) Texas Tech University Health Sciences Center at El | ||
Paso, $72,480,000 . | ||
(b) The board may pledge irrevocably to the payment of bonds | ||
authorized by this section all or any part of the revenue funds of | ||
an institution, branch, or entity of the Texas Tech University | ||
System, including student tuition charges. The amount of a pledge | ||
made under this subsection may not be reduced or abrogated while the | ||
bonds for which the pledge is made, or bonds issued to refund those | ||
bonds, are outstanding. | ||
(c) If sufficient funds are not available to the board to | ||
meet its obligations under this section, the board may transfer | ||
funds among institutions, branches, and entities of the Texas Tech | ||
University System to ensure the most equitable and efficient | ||
allocation of available resources for each institution, branch, or | ||
entity to carry out its duties and purposes. | ||
Sec. 55.17991. TEXAS SOUTHERN UNIVERSITY; ADDITIONAL | ||
BONDS. (a) In addition to the other authority granted by this | ||
subchapter, the board of regents of Texas Southern University may | ||
acquire, purchase, construct, improve, renovate, enlarge, or equip | ||
property and facilities, including roads and related | ||
infrastructure, for deferred maintenance for campus facilities, to | ||
be financed through the issuance of bonds in accordance with this | ||
subchapter, not to exceed the aggregate principal amount of $ 56.8 | ||
million . | ||
(b) The board may pledge irrevocably to the payment of bonds | ||
authorized by this section all or any part of the revenue funds of | ||
Texas Southern University, including student tuition charges. The | ||
amount of a pledge made under this subsection may not be reduced or | ||
abrogated while the bonds for which the pledge is made, or bonds | ||
issued to refund those bonds, are outstanding. | ||
Sec. 55.17992. TEXAS STATE TECHNICAL COLLEGE SYSTEM. (a) | ||
In addition to the other authority granted by this subchapter, the | ||
board of regents of the Texas State Technical College System may | ||
acquire, purchase, construct, improve, renovate, enlarge, or equip | ||
property and facilities, including roads and related | ||
infrastructure, for projects to be financed through the issuance of | ||
bonds in accordance with this subchapter for the following entity | ||
and institutions, not to exceed the following aggregate principal | ||
amounts for the projects specified, as follows: | ||
(1) Texas State Technical College System, $ 13.4 | ||
million ; | ||
(2) Texas State Technical College--Fort Bend, $ | ||
16,720,000 ; | ||
(3) Texas State Technical College--Harlingen, | ||
$15,120,000 ; | ||
(4) Texas State Technical College--Marshall, $6 | ||
million ; | ||
(5) Texas State Technical College--North Texas, $5.4 | ||
million ; | ||
(6) Texas State Technical College--Waco, $21,440,000 | ||
; and | ||
(7) Texas State Technical College--West Texas, $ 5.4 | ||
million . | ||
(b) The board may pledge irrevocably to the payment of bonds | ||
authorized by this section all or any part of the revenue funds of | ||
an institution, branch, or entity of the Texas State Technical | ||
College System, including student tuition charges. The amount of a | ||
pledge made under this subsection may not be reduced or abrogated | ||
while the bonds for which the pledge is made, or bonds issued to | ||
refund those bonds, are outstanding. | ||
(c) If sufficient funds are not available to the board to | ||
meet its obligations under this section, the board may transfer | ||
funds among institutions, branches, and entities of the Texas State | ||
Technical College System to ensure the most equitable and efficient | ||
allocation of available resources for each institution, branch, or | ||
entity to carry out its duties and purposes. | ||
SECTION 2. This Act does not affect any authority or | ||
restriction regarding the activities that a public institution of | ||
higher education may conduct in connection with a facility financed | ||
by bonds authorized by this Act. | ||
SECTION 3. This Act takes effect September 1, 2021. |