Bill Text: TX SB654 | 2011-2012 | 82nd Legislature | Comm Sub

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Bill Title: Relating to the continuation and functions of the Texas Public Finance Authority.

Sponsorship: Bipartisan Bill

Status: (Introduced - Dead) 2011-03-31 - Committee report printed and distributed [SB654 Detail]

Download: Texas-2011-SB654-Comm_Sub.html

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By: Whitmire, Hegar S.B. No. 654
(In the Senate - Filed March 3, 2011; March 8, 2011, read
first time and referred to Committee on Government Organization;
March 31, 2011, reported adversely, with favorable Committee
Substitute by the following vote: Yeas 6, Nays 0; March 31, 2011,
sent to printer.)
COMMITTEE SUBSTITUTE FOR S.B. No. 654 By: Hegar

A BILL TO BE ENTITLED
AN ACT
relating to the continuation and functions of the Texas Public
Finance Authority.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 1232.072, Government Code, is amended to
read as follows:
Sec. 1232.072. SUNSET PROVISION. The Texas Public Finance
Authority is subject to Chapter 325 (Texas Sunset Act). Unless
continued in existence as provided by that chapter, the authority
is abolished and this chapter expires September 1, 2023 [2011].
SECTION 2. Subchapter B, Chapter 1232, Government Code, is
amended by adding Section 1232.073 to read as follows:
Sec. 1232.073. NEGOTIATED RULEMAKING AND ALTERNATIVE
DISPUTE RESOLUTION. (a) The board shall develop and implement a
policy to encourage the use of:
(1) negotiated rulemaking procedures under Chapter
2008 for the adoption of authority rules; and
(2) appropriate alternative dispute resolution
procedures under Chapter 2009 to assist in the resolution of
internal and external disputes under the authority's jurisdiction.
(b) The authority's procedures relating to alternative
dispute resolution must conform, to the extent possible, to any
model guidelines issued by the State Office of Administrative
Hearings for the use of alternative dispute resolution by state
agencies.
(c) The authority shall:
(1) coordinate the implementation of the policy
adopted under Subsection (a);
(2) provide training as needed to implement the
procedures for negotiated rulemaking or alternative dispute
resolution; and
(3) collect data concerning the effectiveness of those
procedures.
SECTION 3. Section 1232.101, Government Code, is amended to
read as follows:
Sec. 1232.101. ISSUANCE OF BONDS FOR CERTAIN STATE
AGENCIES. (a) With respect to all bonds authorized to be issued by
or on behalf of the adjutant general's department, Parks and
Wildlife Department, Texas Agricultural Finance Authority, Texas
Low-Level Radioactive Waste Disposal Authority[, Stephen F. Austin
State University], Midwestern State University, and Texas Southern
University, the authority has the exclusive authority to act on
behalf of those entities in issuing bonds on their behalf. In
connection with those issuances and with the issuance of refunding
bonds on behalf of those entities, the authority is subject to all
rights, duties, and conditions surrounding issuance previously
applicable to the issuing entity under the statute authorizing the
issuance. A reference in an authorizing statute to the entity on
whose behalf the bonds are being issued applies equally to the
authority in its capacity as issuer on behalf of the entity.
(b) Except as provided by Subsection (a), the authority may,
under an agreement entered into with Texas State Technical College
System or a general academic teaching institution as defined by
Section 61.003, Education Code, act on behalf of Texas State
Technical College System or a general academic teaching institution
in issuing bonds on the system's or institution's behalf. In
connection with those issuances and with the issuance of refunding
bonds on behalf of the system or those institutions, the authority
is subject to all rights, duties, and conditions surrounding
issuance previously applicable to the issuing system or institution
under the statute authorizing the issuance. A reference in an
authorizing statute to the system or institution on whose behalf
the bonds are being issued applies equally to the authority in its
capacity as issuer on behalf of the system or institution. An
agreement under this subsection may provide for reimbursement to
the authority for costs incurred in issuing bonds under the
agreement.
SECTION 4. Subchapter C, Chapter 1232, Government Code, is
amended by adding Section 1232.1221 to read as follows:
Sec. 1232.1221. COMMENCEMENT OF CERTAIN MULTIYEAR
CANCER-RELATED PROJECTS. A multiyear project for which funds are
granted by the Cancer Prevention and Research Institute of Texas
Oversight Committee as authorized by Section 102.257, Health and
Safety Code, may begin after:
(1) the authority has certified that obligations in an
amount sufficient to pay the money needed to fund the project have
been authorized for issuance by the authority and approved by the
Bond Review Board; or
(2) the proceeds have been deposited into the state
treasury and:
(A) the comptroller has certified that the
proceeds are available;
(B) the reserve funds and capitalized interest,
as certified by the authority as reasonably required, have been
paid; and
(C) the costs of issuing the obligations, as
certified by the authority, have been paid.
SECTION 5. Subsection (c), Section 55.13, Education Code,
is amended to read as follows:
(c) Notwithstanding any other provision of this section,
with respect to all bonds authorized to be issued by Midwestern
State University[, Stephen F. Austin State University,] or Texas
Southern University, the Texas Public Finance Authority shall
exercise the authority of a board to issue bonds on behalf of those
institutions, in the manner provided by this subchapter, including
the authority to issue refunding bonds under Section 55.19. In
connection with the issuance of bonds under this chapter, the Texas
Public Finance Authority has all the rights and duties granted or
assigned to and is subject to the same conditions as a board under
this chapter.
SECTION 6. Section 102.257, Health and Safety Code, is
amended to read as follows:
Sec. 102.257. MULTIYEAR PROJECTS. The oversight committee
may grant funds for a multiyear project. The oversight committee
must specify the total amount of [All the] money approved [needed]
to fund the [a] multiyear project. The total amount specified is
considered for purposes of this subchapter to have been [must be]
awarded in the state fiscal year that the project is approved by the
research and prevention programs committee. The institute shall
distribute only the money that will be expended during that fiscal
year. The remaining money shall be [maintained in an escrow account
to be] distributed by the institute as the money is needed in each
subsequent fiscal year [years of the project].
SECTION 7. (a) The changes in law made by this Act apply
only to a grant of funds for a multiyear project by the Cancer
Prevention and Research Institute of Texas Oversight Committee as
authorized by Section 102.257, Health and Safety Code, as amended
by this Act, made on or after September 1, 2011. A grant of funds
for a multiyear project made before that date is governed by the law
in effect on the date the grant was made, and the former law is
continued in effect for that purpose.
(b) The changes in law made by this Act to Section 55.13,
Education Code, and Section 1232.101, Government Code, apply only
to bonds authorized on or after the effective date of this Act.
Bonds authorized before that date are governed by the law in effect
on the date the bonds were authorized, and the former law is
continued in effect for that purpose.
SECTION 8. This Act takes effect immediately if it receives
a vote of two-thirds of all the members elected to each house, as
provided by Section 39, Article III, Texas Constitution. If this
Act does not receive the vote necessary for immediate effect, this
Act takes effect September 1, 2011.
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