1-1 By: Junell (Senate Sponsor - Harris of Dallas) H.B. No. 1878
1-2 (In the Senate - Received from the House May 17, 1993;
1-3 May 18, 1993, read first time and referred to Committee on State
1-4 Affairs; May 21, 1993, reported favorably by the following vote:
1-5 Yeas 7, Nays 1; May 21, 1993, sent to printer.)
1-6 COMMITTEE VOTE
1-7 Yea Nay PNV Absent
1-8 Harris of Dallas x
1-9 Rosson x
1-10 Carriker x
1-11 Henderson x
1-12 Leedom x
1-13 Lucio x
1-14 Luna x
1-15 Nelson x
1-16 Patterson x
1-17 Shelley x
1-18 Sibley x
1-19 West x
1-20 Whitmire x
1-21 A BILL TO BE ENTITLED
1-22 AN ACT
1-23 relating to the issuance of general obligation bonds by the Texas
1-24 Agricultural Finance Authority and to the authority's efforts to
1-25 support minority-owned and women-owned businesses.
1-26 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-27 SECTION 1. Section 58.031(c), Agriculture Code, is amended
1-28 to read as follows:
1-29 (c) The authority may issue and sell general obligation
1-30 bonds of the state not to exceed $100 <$25> million outstanding at
1-31 any one time for the purpose of providing money to establish a
1-32 Texas agricultural fund. The authority may issue the bonds in one
1-33 or several installments.
1-34 SECTION 2. Section 58.021, Agriculture Code, is amended by
1-35 adding Subsections (c), (d), (e), and (f) to read as follows:
1-36 (c) The authority shall make a good faith effort to:
1-37 (1) award to minority-owned businesses contracts
1-38 relating to the issuance of bonds by the authority under this
1-39 chapter in the amount of 20 percent of the total costs of issuing
1-40 those bonds; and
1-41 (2) approve for minority-owned businesses loan
1-42 guarantees in the amount of at least 20 percent of the total loan
1-43 guarantees approved by the authority.
1-44 (d) The authority shall make a good faith effort to:
1-45 (1) award to women-owned businesses contracts relating
1-46 to the issuance of bonds by the authority under this chapter in the
1-47 amount of 10 percent of the total costs of issuing those bonds; and
1-48 (2) approve for women-owned businesses loan guarantees
1-49 in the amount of at least 10 percent of the total loan guarantees
1-50 approved by the authority.
1-51 (e) Not later than November 30 of each year, the authority
1-52 shall file a written report with the governor and each house of the
1-53 legislature containing the following information for the previous
1-54 fiscal year by minority group, by gender, and by region of the
1-55 state:
1-56 (1) the total dollar amount of loan guarantees
1-57 approved by the authority;
1-58 (2) the total number of loan guarantees approved by
1-59 the authority;
1-60 (3) the total number of businesses submitting
1-61 applications to the authority for loan guarantees;
1-62 (4) the total number of contracts relating to the
1-63 issuance of bonds by the authority under this chapter;
1-64 (5) the total dollar amount the authority must pay
1-65 under each contract described by Subdivision (4) of this section;
1-66 and
1-67 (6) the total number of businesses submitting bids or
1-68 proposals relating to the issuance of bonds by the authority under
2-1 this chapter.
2-2 (f) In this section:
2-3 (1) "Minority-owned business" means a business entity
2-4 at least 51 percent of which is owned by members of a minority
2-5 group or, in the case of a corporation, at least 51 percent of the
2-6 shares of which are owned by members of a minority group and that
2-7 is managed and controlled by members of a minority group in its
2-8 daily operations.
2-9 (2) "Minority group" includes:
2-10 (A) African Americans;
2-11 (B) American Indians;
2-12 (C) Asian Americans; and
2-13 (D) Mexican Americans and other Americans of
2-14 Hispanic origin.
2-15 (3) "Women-owned business" means a business entity at
2-16 least 51 percent of which is owned by women or, in the case of a
2-17 corporation, at least 51 percent of the shares of which are owned
2-18 by women and that is managed and controlled by women in its daily
2-19 operations.
2-20 SECTION 3. This Act takes effect on the date of the adoption
2-21 of the constitutional amendment proposed by the 73rd Legislature,
2-22 Regular Session, 1993, providing for an increase in the principal
2-23 amount of bonds for the support of the Texas agricultural fund that
2-24 may be outstanding at one time. If that amendment is not adopted,
2-25 this Act has no effect.
2-26 SECTION 4. The importance of this legislation and the
2-27 crowded condition of the calendars in both houses create an
2-28 emergency and an imperative public necessity that the
2-29 constitutional rule requiring bills to be read on three several
2-30 days in each house be suspended, and this rule is hereby suspended.
2-31 * * * * *
2-32 Austin,
2-33 Texas
2-34 May 21, 1993
2-35 Hon. Bob Bullock
2-36 President of the Senate
2-37 Sir:
2-38 We, your Committee on State Affairs to which was referred H.B.
2-39 No. 1878, have had the same under consideration, and I am
2-40 instructed to report it back to the Senate with the recommendation
2-41 that it do pass and be printed.
2-42 Rosson,
2-43 Vice-Chairman
2-44 * * * * *
2-45 WITNESSES
2-46 FOR AGAINST ON
2-47 ___________________________________________________________________
2-48 Name: Margaret Spearman x
2-49 Representing: TX Dept of Agriculture
2-50 City: Austin
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