1-1 By: Armbrister S.B. No. 377
1-2 (In the Senate - Filed April 18, 1995; April 18, 1995, read
1-3 first time and referred to Committee on State Affairs; May 8, 1995,
1-4 reported adversely, with favorable Committee Substitute by the
1-5 following vote: Yeas 12, Nays 0; May 8, 1995, sent to printer.)
1-6 COMMITTEE SUBSTITUTE FOR S.B. No. 377 By: Armbrister
1-7 A BILL TO BE ENTITLED
1-8 AN ACT
1-9 relating to state agency loan and loan guarantee programs.
1-10 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-11 SECTION 1. CERTAIN LOAN PROGRAM AUDITS. (a) The
1-12 comptroller of public accounts, in conjunction with the state
1-13 auditor and the Texas Department of Banking, shall audit each state
1-14 agency loan and loan guarantee program to determine the:
1-15 (1) personnel costs and other administrative costs
1-16 associated with the program;
1-17 (2) cost versus benefit of the program;
1-18 (3) loan expertise of management in the agency
1-19 administering the program;
1-20 (4) adequacy of program delivery systems;
1-21 (5) privatization potential of loan systems;
1-22 (6) underwriting standards used for the program;
1-23 (7) geographical distribution of loans in the program;
1-24 (8) degree of participation with financial
1-25 institutions and other lender organizations;
1-26 (9) demographic distribution of loan recipients;
1-27 (10) default and past due rates of loans in the
1-28 program; and
1-29 (11) disposition of loan proceeds.
1-30 (b) The state auditor may bill an affected agency for
1-31 reimbursement of the costs of services for the audit required by
1-32 this section.
1-33 (c) The comptroller of public accounts shall complete the
1-34 audit not later than August 1, 1996.
1-35 (d) The comptroller of public accounts, in conjunction with
1-36 the Office of the State Auditor, shall establish the scope and
1-37 level of the audit under this section after review by the
1-38 Legislative Audit Committee.
1-39 (e) The audit records are subject to the open records law,
1-40 Chapter 552, Government Code, as provided by other law, except that
1-41 the financial records of an applicant or borrower are not a public
1-42 record.
1-43 SECTION 2. EFFECTIVE DATE. This Act takes effect September
1-44 1, 1995.
1-45 SECTION 3. EMERGENCY. The importance of this legislation
1-46 and the crowded condition of the calendars in both houses create an
1-47 emergency and an imperative public necessity that the
1-48 constitutional rule requiring bills to be read on three several
1-49 days in each house be suspended, and this rule is hereby suspended.
1-50 * * * * *