By: Counts H.B. No. 1309
73R3228 MJW-D
A BILL TO BE ENTITLED
1-1 AN ACT
1-2 relating to the composition and authority of the Texas Agricultural
1-3 Finance Authority.
1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-5 SECTION 1. Sections 58.012(a) and (b), Agriculture Code, are
1-6 amended to read as follows:
1-7 (a) The authority is governed by a board of directors
1-8 composed of the commissioner of agriculture, the director of the
1-9 Institute for International Agribusiness Studies at Prairie View
1-10 A&M University, and seven <four> members appointed by the governor
1-11 with the advice and consent of the senate.
1-12 (b) The appointed members of the board serve staggered terms
1-13 of two years, with the terms of three <two> members expiring on
1-14 January 1 of each even-numbered year and the terms of four <two>
1-15 members expiring on January 1 of each odd-numbered year.
1-16 SECTION 2. Section 58.021, Agriculture Code, is amended by
1-17 adding Subsection (c) to read as follows:
1-18 (c) The maximum aggregate amount of loans made to or
1-19 guaranteed, insured, coinsured, or reinsured for a single eligible
1-20 agricultural business by the authority or by a lender from funds
1-21 provided by the authority is $2 million.
1-22 SECTION 3. (a) As soon as possible after the effective date
1-23 of this Act, the governor shall appoint the additional members to
1-24 the board of the Texas Agricultural Finance Authority in accordance
2-1 with Section 58.012, Agriculture Code, as amended by this Act. The
2-2 governor shall appoint two members to serve initial terms expiring
2-3 January 1, 1995, and one member to serve an initial term expiring
2-4 January 1, 1996.
2-5 (b) Until all members have taken office, a quorum of the
2-6 authority is a majority of the number of voting members who are
2-7 qualified.
2-8 SECTION 4. (a) Except as provided by Subsection (b) of this
2-9 section, this Act takes effect January 1, 1994.
2-10 (b) Section 2 of this Act takes effect immediately.
2-11 SECTION 5. The importance of this legislation and the
2-12 crowded condition of the calendars in both houses create an
2-13 emergency and an imperative public necessity that the
2-14 constitutional rule requiring bills to be read on three several
2-15 days in each house be suspended, and this rule is hereby suspended,
2-16 and that this Act take effect and be in force according to its
2-17 terms, and it is so enacted.