By: Stiles H.B. No. 718 73R2383 SOS-D A BILL TO BE ENTITLED 1-1 AN ACT 1-2 relating to prohibiting certain extensions of credit by retail 1-3 stores owned or operated by public institutions of higher 1-4 education. 1-5 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-6 SECTION 1. Subchapter Z, Chapter 51, Education Code, is 1-7 amended by adding Section 51.929 to read as follows: 1-8 Sec. 51.929. PROHIBITION AGAINST CERTAIN EXTENSIONS OF 1-9 CREDIT BY RETAIL STORES OWNED OR OPERATED BY INSTITUTIONS OF HIGHER 1-10 EDUCATION. (a) A retail store that is owned or operated by an 1-11 institution of higher education, as defined by Section 61.003 of 1-12 this code, may not enter into a transaction for the sale or lease 1-13 of goods or services in which the store or institution extends 1-14 credit to the obligor. 1-15 SECTION 2. This Act takes effect September 1, 1993, and 1-16 applies only to sales or leases that are made on or after that 1-17 date. 1-18 SECTION 3. The importance of this legislation and the 1-19 crowded condition of the calendars in both houses create an 1-20 emergency and an imperative public necessity that the 1-21 constitutional rule requiring bills to be read on three several 1-22 days in each house be suspended, and this rule is hereby suspended.