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.