By:  Lucio                                            S.B. No. 1455
                                 A BILL TO BE ENTITLED
                                        AN ACT
    1-1  relating to state agency reports to the bond review board on bond
    1-2  transactions.
    1-3        BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
    1-4        SECTION 1.  Chapter 1078, Acts of the 70th Legislature,
    1-5  Regular Session, 1987 (Article 717k-7, Vernon's Texas Civil
    1-6  Statutes), is amended by adding Section 7C to read as follows:
    1-7        Sec. 7C.  BOND TRANSACTION REPORT.  (a)  Each entity,
    1-8  including the Texas Public Finance Authority, that issues state
    1-9  bonds shall report to the board its bond transactions.
   1-10        (b)  The entity shall report under this section not later
   1-11  than March 15 and September 16 of each year.
   1-12        (c)  The report must be itemized and must cover bond
   1-13  transactions of the preceding six months ending March 1 or
   1-14  September 1, respectively, and must state the dollar amounts paid
   1-15  as:
   1-16              (1)  management fees, expenses, and take-down, both
   1-17  priority and member order on the transactions; and
   1-18              (2)  management fees, expenses, and take-down, both
   1-19  priority and member order, to businesses, classifying the
   1-20  businesses based on the race, ethnicity, and gender of the
   1-21  controlling ownership of each business and as to whether the
   1-22  business is domestic or foreign.
   1-23        (d)  On April 15 of each year, the board shall send a report
    2-1  based on the information received under this section for the
    2-2  preceding six-month period ending April 1 to the joint committee
    2-3  charged with monitoring the implementation of the historically
    2-4  underutilized business goals.
    2-5        (e)  On October 15 of each year the board shall send a report
    2-6  based on the information received under this section for the fiscal
    2-7  year ending the preceding August 31 to the presiding officer of
    2-8  each house of the legislature, the members of the legislature, and
    2-9  the joint committee.
   2-10        SECTION 2.  This Act takes effect September 1, 1995.
   2-11        SECTION 3.  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.