Bill Text: TX SB2131 | 2019-2020 | 86th Legislature | Enrolled

Texas Senate Bill 2131 (Prior Session Legislation)

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




	AN ACT
	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