SRC-AAA H.B. 1235 75(R) BILL ANALYSIS Senate Research Center H.B. 1235 By: Junell (Ratliff) Finance 4-13-97 Engrossed DIGEST Currently, under the Education Code, institutions of higher education have the authority to issue revenue bonds for certain purposes. These bonds may be backed by future tuition revenues. This bill grants authority to the board of regents of various institutions of higher education to finance capital improvements. Additionally, this bill allows the board of regents of the various institutions of higher education to pledge certain items for payment of the bonds. PURPOSE As proposed, H.B. 1235 grants authority to the board of regents of various institutions of higher education to finance capital improvements and to pledge certain items for payment of the bonds. RULEMAKING AUTHORITY This bill does not grant any additional rulemaking authority to a state officer, institution, or agency. SECTION BY SECTION ANALYSIS SECTION 1. Amends Section 55.17(e), Education Code, by adding Subdivision (4), to set forth requirements for issuing bonds for Texas Tech University and the Texas Tech Health Center. SECTION 2. Amends Chapter 55B, Education Code, by adding Sections 55.1721-55.1728, as follows: Sec. 55.1721. THE TEXAS A&M UNIVERSITY SYSTEM. Sets forth requirements for issuing bonds and payment of bonds, and sets forth the principal amounts for: Prairie View A&M University, Tarleton State University, Texas A&M--Commerce, Texas A&M--Corpus Christi, Texas A&M International University, Texas A&M--Kingsville, Texas A&M-Texarkana, and West Texas A&M University. Sec. 55.1722. THE UNIVERSITY OF TEXAS SYSTEM. Sets forth requirements for issuing bonds and payment of bonds, and sets forth the principal amounts for: University of Texas at Arlington, University of Texas at Brownsville, University of Texas at Dallas, University of Texas at El Paso, University of Texas--Pan American, University of Texas of the Permian Basin, University of Texas at San Antonio, and University of Texas at Tyler. Sec. 55.1723. THE UNIVERSITY OF HOUSTON SYSTEM. Sets forth requirements for issuing bonds and payment of bonds for the University of Houston System. Sec. 55.1724. TEXAS STATE UNIVERSITY SYSTEM. Sets forth requirements for payment of bonds for the Texas State University System. Sec. 55.1725. UNIVERSITY OF NORTH TEXAS AND UNIVERSITY OF NORTH TEXAS HEALTH SCIENCE CENTER AT FORT WORTH. Sets forth requirements for issuance of principal and payment of bonds for University of North Texas and UNT Health Science Center. Sec. 55.1726. TEXAS WOMAN'S UNIVERSITY. Sets forth requirements for issuance of principal amounts and payment of bonds for Texas Woman's University. Sec. 55.1727. MIDWESTERN STATE UNIVERSITY. Sets forth requirements for the issuance of principal amounts and payment of bonds for Midwestern State University. Sec. 55.1728. STEPHEN F. AUSTIN UNIVERSITY. Sets forth requirements for the issuance of principal amounts and payment of bonds for Stephen F. Austin University. SECTION 3. Amends Chapter 55B, Education Code, bu adding Section 55.174, as follows: Sec. 55.174. TEXAS SOUTHERN UNIVERSITY. Sets forth requirements for issuance of principal amounts and payment of bonds for Texas Southern University. SECTION 4. Emergency clause. Effective date: upon passage.