Bill Text: TX SB505 | 2019-2020 | 86th Legislature | Introduced
Bill Title: Relating to authorizing the issuance of revenue bonds to fund capital projects at public institutions of higher education; making an appropriation.
Spectrum: Bipartisan Bill
Status: (Introduced - Dead) 2019-03-19 - Co-author authorized [SB505 Detail]
Download: Texas-2019-SB505-Introduced.html
86R5208 SOS-D | ||
By: Seliger | S.B. No. 505 |
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relating to authorizing the issuance of revenue bonds to fund | ||
capital projects at public institutions of higher education; making | ||
an appropriation. | ||
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, and 55.1799 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: | ||
(A) $60 million for construction of an | ||
engineering classroom and research building; and | ||
(B) $48 million for construction of a | ||
multipurpose educational and event facility; | ||
(2) Tarleton State University: | ||
(A) $72 million for construction of an | ||
agriculture and natural resources building; and | ||
(B) $70 million for construction of the Tarleton | ||
State University Building 2 located in Fort Worth, a physical | ||
plant, and campus infrastructure; | ||
(3) Texas A&M University, $85 million for construction | ||
of an instructional lab and innovative learning facility; | ||
(4) Texas A&M University--Central Texas, $25 million | ||
for construction of a central utility plant; | ||
(5) Texas A&M University--Commerce, $49.5 million for | ||
construction of an agricultural multipurpose education and | ||
training center; | ||
(6) Texas A&M University--Corpus Christi, $58.5 | ||
million for construction of an arts and media building; | ||
(7) Texas A&M University at Galveston, $58,349,500 for | ||
construction of an immersive scholarship and learning environment | ||
building, a central plant, and campus infrastructure; | ||
(8) Texas A&M International University: | ||
(A) $9 million for renovation of and additions to | ||
fine and performing arts instructional and support spaces; and | ||
(B) $75 million for construction of a student | ||
classroom and events center; | ||
(9) Texas A&M University--Kingsville, $65 million for | ||
construction of a STEM health professions workforce development | ||
complex; | ||
(10) Texas A&M University--San Antonio, $53 million | ||
for construction of an academic and library building; | ||
(11) Texas A&M University--Texarkana, $46 million for | ||
construction of a business, engineering, and technology building; | ||
(12) West Texas A&M University: | ||
(A) $28.5 million for capital improvements for | ||
life and fire safety and fire compliance issues; and | ||
(B) $20 million for renovation of the education | ||
building; and | ||
(13) The Texas A&M University System Health Science | ||
Center, $100 million for construction of the Texas Medical Center | ||
Building 3. | ||
(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, $60,800,000 | ||
for construction of a social work and college of nursing academy | ||
building; | ||
(2) The University of Texas at Austin, $100 million | ||
for restoration of the J.T. Patterson Labs building; | ||
(3) The University of Texas at Dallas: | ||
(A) $120 million for a joint project with The | ||
University of Texas Southwestern Medical Center at Dallas for | ||
construction of a translational biomedical engineering and science | ||
building; and | ||
(B) $85 million for construction of a student | ||
success center; | ||
(4) The University of Texas at El Paso, $113 million | ||
for construction of an advanced teaching and learning complex; | ||
(5) The University of Texas of the Permian Basin, $40 | ||
million for improvement and renovation of the Mesa building; | ||
(6) The University of Texas--Rio Grande Valley, $70 | ||
million for construction of a health affairs building; | ||
(7) The University of Texas at San Antonio, | ||
$126,250,000 for construction of a college of business building for | ||
the downtown campus; | ||
(8) The University of Texas at Tyler, $50 million for | ||
construction of a college of nursing and health science building; | ||
(9) The University of Texas Health Science Center at | ||
Houston, $200 million for a joint project with The University of | ||
Texas M. D. Anderson Cancer Center for construction of a research | ||
building; | ||
(10) The University of Texas Health Science Center at | ||
San Antonio, $82 million for construction of the Glenn Biggs | ||
Institute for Alzheimer's & Neurodegenerative Diseases building; | ||
(11) The University of Texas Health Science Center at | ||
Tyler, $18.5 million for construction of a proposed capital | ||
project; | ||
(12) The University of Texas M. D. Anderson Cancer | ||
Center, $200 million for a joint project with The University of | ||
Texas Health Science Center at Houston for construction of a | ||
research building; | ||
(13) The University of Texas Medical Branch at | ||
Galveston, $157 million for construction of facilities; and | ||
(14) The University of Texas Southwestern Medical | ||
Center at Dallas, $120 million for a joint project with The | ||
University of Texas at Dallas for construction of a translational | ||
biomedical engineering and science building. | ||
(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 institutions, not to exceed the | ||
following aggregate principal amounts for the projects specified, | ||
as follows: | ||
(1) the University of Houston, $60 million for | ||
construction of a law center building; | ||
(2) the University of Houston--Clear Lake, $56 million | ||
for Phase II of the STEM and classroom building construction; | ||
(3) the University of Houston--Downtown, $110 million | ||
for construction of an arts, sciences, engineering, and | ||
entrepreneurship center; and | ||
(4) the University of Houston--Victoria, $74,700,000 | ||
for campus expansion. | ||
(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, $45 million for construction of | ||
the Lamar University Digital Learning Center; | ||
(2) Lamar State College--Orange, $32 million for | ||
construction of an academic building; | ||
(3) Lamar State College--Port Arthur: | ||
(A) $1,012,500 for construction of a workforce | ||
training center; and | ||
(B) $20 million for construction of a proposed | ||
capital project; | ||
(4) Lamar Institute of Technology: | ||
(A) $1.1 million for construction of a | ||
professional truck driving academy building; and | ||
(B) $20 million for construction of a workforce | ||
training center; | ||
(5) Sam Houston State University, $70 million for | ||
construction of an allied health building; | ||
(6) Sul Ross State University, $25,550,000 for | ||
expansion of the fine arts facility; | ||
(7) Sul Ross State University-Rio Grande College, $20 | ||
million for a proposed capital project for educational | ||
opportunities located in Eagle Pass, Texas; and | ||
(8) Texas State University: | ||
(A) $125 million for construction of a STEM | ||
classroom building located in San Marcos, Texas; and | ||
(B) $75 million for construction of a health | ||
professions building located in Round Rock, Texas. | ||
(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, $126 million for | ||
construction of a science and technology research building; | ||
(2) the University of North Texas at Dallas, $92 | ||
million for construction of a STEM building; and | ||
(3) the University of North Texas Health Science | ||
Center at Fort Worth, $115.5 million for construction of an | ||
academic building. | ||
(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 $105 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 $10 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 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 $48 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, $22.5 million for | ||
construction of an art building; | ||
(2) Texas Tech University, $118,080,000 for | ||
construction of a facility; | ||
(3) Texas Tech University Health Sciences Center, | ||
$34,650,000 for expansion of the academic and clinic building | ||
located in Amarillo, Texas; and | ||
(4) Texas Tech University Health Sciences Center at El | ||
Paso, $92,349,000 for construction of a dental school building. | ||
(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. | ||
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. (a) The amount of $3,964,841,000 is | ||
appropriated out of the economic stabilization fund to the | ||
comptroller of public accounts for the state fiscal biennium ending | ||
August 31, 2021, for distribution to institutions of higher | ||
education and university systems for debt service on revenue bonds | ||
authorized by this Act. This subsection takes effect only if this | ||
Act receives a vote of two-thirds of the members present in each | ||
house of the legislature, as provided by Section 49-g(m), Article | ||
III, Texas Constitution. If this Act does not receive a vote of | ||
two-thirds of the members present in each house of the legislature, | ||
this subsection does not take effect. | ||
(b) This subsection takes effect only if Subsection (a) of | ||
this section does not take effect. The amount of $3,964,841,000 is | ||
appropriated out of the general revenue fund to the comptroller of | ||
public accounts for the state fiscal biennium ending August 31, | ||
2021, for distribution to institutions of higher education and | ||
university systems for debt service on revenue bonds authorized by | ||
this Act. | ||
(c) The comptroller shall distribute a portion of the amount | ||
appropriated by Subsection (a) or (b) of this section, as | ||
applicable, to each institution of higher education or university | ||
system, as applicable, in accordance with calculations made by the | ||
Legislative Budget Board of each institution's or system's | ||
proportionate share of the amount appropriated based on the amount | ||
of revenue bonds authorized by this Act for each institution or | ||
system. | ||
(d) The Legislative Budget Board shall make the initial | ||
calculations under this section and notify the comptroller and the | ||
applicable institutions of higher education and university systems | ||
of the respective shares to be distributed under this section as | ||
soon as practicable. The Legislative Budget Board may make | ||
adjustments to those calculations and provide a final determination | ||
of those shares. | ||
SECTION 4. Except as provided by Sections 3(a) and (b) of | ||
this Act, this Act takes effect September 1, 2019. |