1-1 By: Romo (Senate Sponsor - Barrientos) H.B. No. 1013 1-2 (In the Senate - Received from the House May 4, 1995; 1-3 May 5, 1995, read first time and referred to Committee on Finance; 1-4 May 17, 1995, reported adversely, with favorable Committee 1-5 Substitute by the following vote: Yeas 10, Nays 1; May 17, 1995, 1-6 sent to printer.) 1-7 COMMITTEE SUBSTITUTE FOR H.B. No. 1013 By: Barrientos 1-8 A BILL TO BE ENTITLED 1-9 AN ACT 1-10 relating to the issuance of obligations by the Texas Public Finance 1-11 Authority. 1-12 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-13 SECTION 1. Section 9B(a), Texas Public Finance Authority Act 1-14 (Article 601d, Vernon's Texas Civil Statutes), is amended to read 1-15 as follows: 1-16 (a) With respect to all bonds authorized to be issued by the 1-17 Texas National Guard Armory Board, Texas National Research 1-18 Laboratory Commission, Parks and Wildlife Department, Texas 1-19 Department of Commerce, Texas Higher Education Coordinating Board, 1-20 Texas Agricultural Finance Authority, and all institutions of 1-21 higher education authorized to issue bonds under Chapter 55, 1-22 Education Code, the authority has the exclusive authority to act on 1-23 behalf of those entities in issuing bonds on their behalf. In 1-24 connection with those issuances and with the issuance of refunding 1-25 bonds on behalf of those entities, the authority is subject to all 1-26 rights, duties, and conditions surrounding issuance previously 1-27 applicable to the issuing entity under the statute authorizing the 1-28 issuance. All references in an authorizing statute to the entity 1-29 on whose behalf the bonds are being issued apply equally to the 1-30 authority in its capacity as issuer on behalf of the entity. 1-31 SECTION 2. The Texas Public Finance Authority Act (Article 1-32 601d, Vernon's Texas Civil Statutes) is amended by adding Section 1-33 9D to read as follows: 1-34 Sec. 9D. PARTICIPATION OF CERTAIN BUSINESSES IN ISSUANCE OF 1-35 OBLIGATIONS. (a) The authority shall make an effort to overcome 1-36 the underuse of historically underutilized businesses as businesses 1-37 receiving contracts for the purchase of services and supplies used 1-38 in connection with the issuance of obligations issued by the 1-39 authority. 1-40 (b) The authority shall submit a comprehensive annual report 1-41 to the governor detailing its use of historically underutilized 1-42 businesses. 1-43 (c) In this section, "historically underutilized business" 1-44 has the meaning as assigned by Section 481.101, Government Code. 1-45 (d) The rules adopted under this section may not be used to 1-46 discriminate against any citizen on the basis of sex, race, color, 1-47 creed, or national origin. 1-48 (e) This section does not create a new cause of action, 1-49 either public or private. 1-50 SECTION 3. Subchapter D, Chapter 58, Agriculture Code, is 1-51 amended by adding Section 58.041 to read as follows: 1-52 Sec. 58.041. BOND ISSUANCE BY TEXAS PUBLIC FINANCE 1-53 AUTHORITY. The Texas Public Finance Authority shall exercise the 1-54 board's authority provided by law to issue bonds and refunding 1-55 bonds. The Texas Public Finance Authority is subject to all 1-56 rights, duties, and conditions provided by law with respect to 1-57 issuance of bonds by the board. 1-58 SECTION 4. Subchapter C, Chapter 61, Education Code, is 1-59 amended by adding Section 61.084 to read as follows: 1-60 Sec. 61.084. BOND ISSUANCE BY TEXAS PUBLIC FINANCE 1-61 AUTHORITY. (a) The Texas Public Finance Authority shall exercise 1-62 the board's authority provided by law to issue bonds and refunding 1-63 bonds. The Texas Public Finance Authority is subject to all 1-64 rights, duties, and conditions provided by law with respect to 1-65 issuance of bonds by the board. 1-66 (b) For purposes of Sections 50b, 50b-1, 50b-2, and 50b-3, 1-67 Article III, Texas Constitution, the authority is the successor to 1-68 the board. 2-1 SECTION 5. Subchapter A, Chapter 481, Government Code, is 2-2 amended by adding Section 481.0091 to read as follows: 2-3 Sec. 481.0091. BOND ISSUANCE BY TEXAS PUBLIC FINANCE 2-4 AUTHORITY. The Texas Public Finance Authority shall exercise the 2-5 department's authority provided by law to issue bonds and refunding 2-6 bonds. The Texas Public Finance Authority is subject to all 2-7 rights, duties, and conditions provided by law with respect to 2-8 issuance of bonds by the department. 2-9 SECTION 6. The importance of this legislation and the 2-10 crowded condition of the calendars in both houses create an 2-11 emergency and an imperative public necessity that the 2-12 constitutional rule requiring bills to be read on three several 2-13 days in each house be suspended, and this rule is hereby suspended. 2-14 * * * * *