Bill Text: TX HB2119 | 2019-2020 | 86th Legislature | Enrolled
Bill Title: Relating to the application for and loans from the Texas military value revolving loan account.
Spectrum: Bipartisan Bill
Status: (Passed) 2019-06-10 - Effective on 9/1/19 [HB2119 Detail]
Download: Texas-2019-HB2119-Enrolled.html
H.B. No. 2119 |
|
||
relating to the application for and loans from the Texas military | ||
value revolving loan account. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Section 436.054, Government Code, is amended by | ||
amending Subsection (b) and adding Subsections (c), (d), and (e) to | ||
read as follows: | ||
(b) The commission is a governmental body for purposes of | ||
the open meetings law, Chapter 551. Except as otherwise provided by | ||
this section, Chapter 551 applies to a meeting of the commission. | ||
(c) The commission may allow for members' participation in a | ||
meeting by telephone or other means of telecommunication or | ||
electronic communication to consider an application for a loan from | ||
the Texas military value revolving loan account. Any voting | ||
conducted by telephone or other means of telecommunication or | ||
electronic communication shall be subject to the same quorum | ||
requirements of meetings where members are present in person. | ||
(d) A meeting described by Subsection (c) is subject to the | ||
notice requirements applicable to other meetings. The notice of | ||
the meeting must specify as the location of the meeting the location | ||
where meetings of the commission are usually held. | ||
(e) Each part of a meeting described by Subsection (c) that | ||
is required to be open to the public shall be audible to the public | ||
at the location specified in the notice of the meeting as the | ||
location of the meeting and the audio shall be recorded. The audio | ||
recording shall be made available to the public. | ||
SECTION 2. Subchapter D, Chapter 436, Government Code, is | ||
amended by adding Section 436.1533 to read as follows: | ||
Sec. 436.1533. USE OF LOAN PROCEEDS TO PAY OTHER DEBT | ||
INCURRED TO FINANCE PROJECT. A defense community awarded a loan of | ||
financial assistance from the Texas military value revolving loan | ||
account for an eligible project under this subchapter may use a | ||
portion of the loan proceeds to pay off other debt, including | ||
commercial debt, the defense community incurred for purposes of | ||
financing the project. | ||
SECTION 3. Section 436.154(a), Government Code, is amended | ||
to read as follows: | ||
(a) The commission shall adopt rules, in consultation with | ||
the Texas Public Finance Authority, that contain the criteria for | ||
evaluating the credit of a loan applicant and the financial | ||
feasibility of a project. The commission, in consultation with the | ||
Texas Public Finance Authority, shall also adopt a loan application | ||
form. The application form may include: | ||
(1) the name of the defense community and its | ||
principal officers; | ||
(2) the total cost of the project; | ||
(3) the amount of state financial assistance | ||
requested; | ||
(4) the plan for repaying the loan; and | ||
(5) any other information the commission requires to | ||
perform its duties and to protect the public interest. | ||
SECTION 4. This Act takes effect September 1, 2019. | ||
______________________________ | ______________________________ | |
President of the Senate | Speaker of the House | |
I certify that H.B. No. 2119 was passed by the House on April | ||
24, 2019, by the following vote: Yeas 147, Nays 0, 1 present, not | ||
voting; and that the House concurred in Senate amendments to H.B. | ||
No. 2119 on May 22, 2019, by the following vote: Yeas 144, Nays 0, | ||
1 present, not voting. | ||
______________________________ | ||
Chief Clerk of the House | ||
I certify that H.B. No. 2119 was passed by the Senate, with | ||
amendments, on May 14, 2019, by the following vote: Yeas 31, Nays | ||
0. | ||
______________________________ | ||
Secretary of the Senate | ||
APPROVED: __________________ | ||
Date | ||
__________________ | ||
Governor |