MMA S.B. 1038 75(R)BILL ANALYSIS HIGHER EDUCATION S.B. 1038 By: Duncan (Jones, Delwin) 4-24-97 Committee Report (Unamended) BACKGROUND Under present law, the Board of Regents of Texas Tech University also serves independently as the Board of Regents of Texas Tech University Health Sciences Center. Chapter 62, Education Code, as currently written, requires that bonds and notes be issued separately for each institution, although the same individuals serve as the board of regents for both institutions. This results in a less efficient and more costly issuance of bonds and notes on behalf of the two institutions. PURPOSE S.B. 1038 would permit the governing board of Texas Tech University to combine the authorizations of the Texas Tech University Health Sciences Center (TTUHSC) and Texas Tech University (TTU) to issue bonds and notes on behalf of the two institutions under a single financing system. RULEMAKING AUTHORITY It is the committee's opinion that this bill does not expressly grant any additional rulemaking authority to a state officer, department, agency or institution. SECTION BY SECTION ANALYSIS SECTION 1. Amends Subsection (c), Section 62.021, Education Code by inserting language which allows the governing board of Texas Tech University, for the purpose of this chapter, to issue bonds and notes for both TTU and TTUHSC. Authorizes annual appropriations to both institutions to be combined and pledged in support of such bonds and notes. SECTION 2. Emergency clause.