1-1 By: Hernandez (Senate Sponsor - Barrientos) H.B. No. 686
1-2 (In the Senate - Received from the House March 23, 1995;
1-3 March 27, 1995, read first time and referred to Committee on
1-4 Education; April 6, 1995, rereferred to Committee on Finance;
1-5 May 1, 1995, reported favorably, as amended, by the following vote:
1-6 Yeas 8, Nays 0; May 1, 1995, sent to printer.)
1-7 COMMITTEE AMENDMENT NO. 1 By: Barrientos
1-8 Amend H.B. No. 686 as follows:
1-9 (1) On page 2, line 10, amend SECTION 4, Subsection (a),
1-10 paragraph (2), by striking "$200" and substituting "$400" in its
1-11 place.
1-12 (2) On page 2, line 21, amend SECTION 6, by striking "$200"
1-13 and substituting "$400" in its place.
1-14 A BILL TO BE ENTITLED
1-15 AN ACT
1-16 relating to the student loan program administered by the Texas
1-17 Higher Education Coordinating Board; authorizing the issuance of
1-18 bonds.
1-19 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-20 SECTION 1. Section 52.01, Education Code, is amended to read
1-21 as follows:
1-22 Sec. 52.01. ADMINISTRATION. The Texas Higher Education
1-23 Coordinating Board, or its successors, shall administer the student
1-24 loan program authorized by this chapter pursuant to Article III,
1-25 Sections 50b, 50b-1, 50b-2, <and> 50b-3, and 50b-4, of the Texas
1-26 Constitution. Personnel and other expenses required to properly
1-27 administer this chapter shall be funded by:
1-28 (1) the general appropriations acts; or
1-29 (2) any other source of revenue received by the board
1-30 in connection with the operation of the student loan program.
1-31 SECTION 2. Section 52.501(4), Education Code, is amended to
1-32 read as follows:
1-33 (4) "Bond" means a general obligation bond issued by
1-34 the board under Article III, Section 50b, 50b-1, 50b-2, <or> 50b-3,
1-35 or 50b-4, of the Texas Constitution.
1-36 SECTION 3. Section 52.81(2), Education Code, is amended to
1-37 read as follows:
1-38 (2) "Bond" means a general obligation bond issued by
1-39 the board under Article III, Section 50b-3 or 50b-4, of the Texas
1-40 Constitution.
1-41 SECTION 4. Section 52.82(a), Education Code, is amended to
1-42 read as follows:
1-43 (a) The board may by resolution authorize the issuance of
1-44 general obligation bonds in <a> total aggregate amounts <amount>
1-45 not to exceed:
1-46 (1) $300 million under Section 50b-3, Article III,
1-47 Texas Constitution; and
1-48 (2) $200 million under Section 50b-4, Article III,
1-49 Texas Constitution.
1-50 SECTION 5. Section 52.87, Education Code, is amended to read
1-51 as follows:
1-52 Sec. 52.87. MANDAMUS. The performance of official duties
1-53 prescribed by this subchapter and Article III, Sections <Section>
1-54 50b-3 and 50b-4, of the Texas Constitution, in reference to the
1-55 payment of the bonds, may be enforced in a court of competent
1-56 jurisdiction by mandamus or other appropriate proceedings.
1-57 SECTION 6. This Act takes effect on the date on which the
1-58 constitutional amendment proposed by the 74th Legislature, Regular
1-59 Session, 1995, providing for the issuance of $200 million in
1-60 general obligation bonds to finance educational loans to students
1-61 takes effect. If that amendment is not approved by the voters,
1-62 this Act has no effect.
1-63 SECTION 7. The importance of this legislation and the
1-64 crowded condition of the calendars in both houses create an
1-65 emergency and an imperative public necessity that the
1-66 constitutional rule requiring bills to be read on three several
1-67 days in each house be suspended, and this rule is hereby suspended,
1-68 and that this Act take effect and be in force according to its
2-1 terms, and it is so enacted.
2-2 * * * * *