Bill Text: TX SB1799 | 2011-2012 | 82nd Legislature | Enrolled
Bill Title: Relating to the student loan program administered by the Texas Higher Education Coordinating Board; authorizing the issuance of bonds.
Spectrum: Slight Partisan Bill (Democrat 2-1)
Status: (Passed) 2011-06-17 - Effective on adoption of const. amendment [SB1799 Detail]
Download: Texas-2011-SB1799-Enrolled.html
S.B. No. 1799 |
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relating to the student loan program administered by the Texas | ||
Higher Education Coordinating Board; authorizing the issuance of | ||
bonds. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Section 52.01, Education Code, is amended to | ||
read as follows: | ||
Sec. 52.01. ADMINISTRATION. The Texas Higher Education | ||
Coordinating Board, or its successors, shall administer the student | ||
loan program authorized by this chapter pursuant to Sections 50b-4, | ||
50b-5, [ |
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any former provision of the Texas Constitution authorizing bonds to | ||
finance educational loans to students. Personnel and other | ||
expenses required to properly administer this chapter shall be | ||
funded by: | ||
(1) the general appropriations acts; or | ||
(2) any other source of revenue received by the board | ||
in connection with the operation of the student loan program. | ||
SECTION 2. Subdivision (4), Section 52.501, Education Code, | ||
is amended to read as follows: | ||
(4) "Bond" means a general obligation bond issued by | ||
the board under Section 50b-4, 50b-5, [ |
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III, Texas Constitution, or any former provision of the Texas | ||
Constitution authorizing bonds to finance educational loans to | ||
students. | ||
SECTION 3. Subdivision (2), Section 52.81, Education Code, | ||
is amended to read as follows: | ||
(2) "Bond" means a general obligation bond issued by | ||
the board under former Section 50b-3 or Section 50b-4, 50b-5, [ |
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50b-6, or 50b-7, Article III, Texas Constitution. | ||
SECTION 4. Subsections (a) and (d), Section 52.82, | ||
Education Code, are amended to read as follows: | ||
(a) The board may by resolution authorize the issuance of | ||
general obligation bonds. The principal amount of outstanding | ||
bonds issued under this section must at all times be equal to or | ||
less than the amount provided by Section 50b-7, Article III, Texas | ||
Constitution [ |
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(d) The total amount of bonds issued by the board in a state | ||
fiscal year may not exceed $350 [ |
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SECTION 5. Section 52.87, Education Code, is amended to | ||
read as follows: | ||
Sec. 52.87. MANDAMUS. The performance of official duties | ||
prescribed by this subchapter and by former Section 50b-3 and | ||
Sections 50b-4, 50b-5, [ |
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Constitution, in reference to the payment of the bonds, may be | ||
enforced in a court of competent jurisdiction by mandamus or other | ||
appropriate proceedings. | ||
SECTION 6. This Act takes effect on the date on which the | ||
constitutional amendment proposed by the 82nd Legislature, Regular | ||
Session, 2011, providing for the issuance of general obligation | ||
bonds to finance educational loans to students takes effect. If | ||
that amendment is not approved by the voters, this Act has no | ||
effect. | ||
______________________________ | ______________________________ | |
President of the Senate | Speaker of the House | |
I hereby certify that S.B. No. 1799 passed the Senate on | ||
April 28, 2011, by the following vote: Yeas 27, Nays 4. | ||
______________________________ | ||
Secretary of the Senate | ||
I hereby certify that S.B. No. 1799 passed the House on | ||
May 24, 2011, by the following vote: Yeas 133, Nays 13, two | ||
present not voting. | ||
______________________________ | ||
Chief Clerk of the House | ||
Approved: | ||
______________________________ | ||
Date | ||
______________________________ | ||
Governor |