Bill Text: TX SB2131 | 2019-2020 | 86th Legislature | Enrolled
Bill Title: Relating to the application for and loans from the Texas military value revolving loan account.
Spectrum: Slight Partisan Bill (Democrat 3-1)
Status: (Passed) 2019-05-28 - Effective on 9/1/19 [SB2131 Detail]
Download: Texas-2019-SB2131-Enrolled.html
| S.B. No. 2131 | ||
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| 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 Subsection (c) 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 | ||
| Subsection (c), 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. | ||
| 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. The Texas Military Preparedness Commission is | ||
| required to implement a provision of this Act only if the | ||
| legislature appropriates money specifically for that purpose. If | ||
| the legislature does not appropriate money specifically for that | ||
| purpose, the commission may, but is not required to, implement a | ||
| provision of this Act using other appropriations available for that | ||
| purpose. | ||
| SECTION 5. This Act takes effect September 1, 2019. | ||
| ______________________________ | ______________________________ | |
| President of the Senate | Speaker of the House | |
| I hereby certify that S.B. No. 2131 passed the Senate on | ||
| May 3, 2019, by the following vote: Yeas 30, Nays 1. | ||
| ______________________________ | ||
| Secretary of the Senate | ||
| I hereby certify that S.B. No. 2131 passed the House on | ||
| May 14, 2019, by the following vote: Yeas 138, Nays 3, | ||
| two present not voting. | ||
| ______________________________ | ||
| Chief Clerk of the House | ||
| Approved: | ||
| ______________________________ | ||
| Date | ||
| ______________________________ | ||
| Governor | ||
