By Romo H.B. No. 1013
74R4859 RJA-D
A BILL TO BE ENTITLED
1-1 AN ACT
1-2 relating to the issuance of obligations by the Texas Public Finance
1-3 Authority.
1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-5 SECTION 1. Section 9B, Texas Public Finance Authority Act
1-6 (Article 601d, Vernon's Texas Civil Statutes), is amended to read
1-7 as follows:
1-8 Sec. 9B. Authority to Act as Issuer. (a) With respect to
1-9 all bonds authorized to be issued by the Texas National Guard
1-10 Armory Board, Texas National Research Laboratory Commission, Parks
1-11 and Wildlife Department, and all institutions of higher education
1-12 authorized to issue bonds under Chapter 55, Education Code, or
1-13 Section 17, Article VII, Texas Constitution, the authority has the
1-14 exclusive authority to act on behalf of those entities in issuing
1-15 bonds on their behalf. In connection with those issuances and with
1-16 the issuance of refunding bonds on behalf of those entities, the
1-17 authority is subject to all rights, duties, and conditions
1-18 surrounding issuance previously applicable to the issuing entity
1-19 under the statute authorizing the issuance. All references in an
1-20 authorizing statute to the entity on whose behalf the bonds are
1-21 being issued apply equally to the authority in its capacity as
1-22 issuer on behalf of the entity.
1-23 (b) This section does not apply to The University of Texas
1-24 System, The Texas A&M University System, or a component of those
2-1 systems, <to an institution of higher education authorized to issue
2-2 bonds under Article VII, Section 17, of the Texas Constitution,> or
2-3 to bonds authorized to be issued by any of those systems or<,>
2-4 components<, or institutions>.
2-5 SECTION 2. The Texas Public Finance Authority Act (Article
2-6 601d, Vernon's Texas Civil Statutes) is amended by adding Section
2-7 9D to read as follows:
2-8 Sec. 9D. PARTICIPATION OF CERTAIN BUSINESSES IN ISSUANCE OF
2-9 OBLIGATIONS. (a) In this section:
2-10 (1) "Minority group member" includes an individual
2-11 identified as:
2-12 (A) African American;
2-13 (B) Native American;
2-14 (C) Asian American; or
2-15 (D) Mexican American or other American of
2-16 Hispanic origin.
2-17 (2) "Minority-owned business" means a business entity
2-18 in which at least 51 percent of the ownership interests in the
2-19 entity are held by one or more minority group members, including a
2-20 corporation in which at least 51 percent of the shares are owned by
2-21 one or more minority group members, and that is managed, operated,
2-22 and controlled by one or more minority group members.
2-23 (3) "Woman-owned business" means a business entity in
2-24 which at least 51 percent of the ownership interests in the entity
2-25 are held by one or more women, including a corporation in which at
2-26 least 51 percent of the shares are owned by one or more women, and
2-27 that is managed, operated, and controlled by one or more women.
3-1 (b) The authority shall make a good faith effort to include
3-2 woman-owned and minority-owned businesses as businesses receiving
3-3 contracts for the purchase of services and supplies used in
3-4 connection with the issuance of at least 20 percent of the total
3-5 dollar value of obligations issued by the authority each fiscal
3-6 year.
3-7 (c) The authority shall submit a report to the governor and
3-8 the legislature at the end of each fiscal year that includes:
3-9 (1) the name of each woman-owned and minority-owned
3-10 business participating in any issuance that fiscal year;
3-11 (2) the number of woman-owned and minority-owned
3-12 businesses submitting bids or proposals in connection with an
3-13 issuance that fiscal year; and
3-14 (3) the amount of obligations issued during that
3-15 fiscal year and the estimated amount of compensation received for
3-16 participation in the issuance by each woman-owned and
3-17 minority-owned business.
3-18 (d) The authority shall give a preference to a business that
3-19 maintains an office located in this state that is dedicated to
3-20 conducting public finance undertakings if the cost and quality of
3-21 services being offered or bid by the business in connection with
3-22 the issuance of obligations are equal to the cost and quality of
3-23 services being offered or bid by a business that does not maintain
3-24 an office in this state dedicated to conducting public finance
3-25 undertakings.
3-26 SECTION 3. This Act takes effect September 1, 1995.
3-27 SECTION 4. The importance of this legislation and the
4-1 crowded condition of the calendars in both houses create an
4-2 emergency and an imperative public necessity that the
4-3 constitutional rule requiring bills to be read on three several
4-4 days in each house be suspended, and this rule is hereby suspended.