Bill not drafted by TLC or Senate E&E. Line and page numbers may not match official copy. By: Sibley, West S.B. No. 574 Ogden, Ellis A BILL TO BE ENTITLED AN ACT 1-1 relating to tuition revenue bonds for certain institutions of 1-2 higher education. 1-3 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-4 SECTION 1. Subchapter B, Chapter 55, Education Code, is 1-5 amended by adding Section 55.1719 as follows: 1-6 Section 55.1719. The Texas A&M University System: Tarleton 1-7 State University and Prairie View A&M University. (a) In addition 1-8 to the authority granted by Sections 55.13, 55.14, 55.17, 55.171, 1-9 55.1711, 55.1712, 55.1713 and 55.19 of this code, the board of 1-10 regents of The Texas A&M University System may acquire, purchase, 1-11 construct, improve, renovate, enlarge, or equip property, 1-12 buildings, structures, facilities, roads or related infrastructure 1-13 for the following institutions to be financed by the issuance of 1-14 bonds in accordance with this subchapter and in accordance with a 1-15 systemwide revenue financing program adopted by the board in 1-16 aggregate principal amounts not to exceed the following amounts: 1-17 (1) Tarleton State University, $15,000,000; and 1-18 (2) Prairie View A&M University, $15,000,000. 1-19 (b) The board may pledge irrevocably to the payment of those 1-20 bonds all or any part of the revenue funds of an institution, 1-21 branch, or entity of The Texas A&M University System, including 1-22 student tuition charges required or authorized by law to be imposed 2-1 on students enrolled at an institution, branch, or entity of The 2-2 Texas A&M University System. The amount of a pledge made under 2-3 this subsection may not be reduced or abrogated while the bonds for 2-4 which the pledge is made, or bonds issued to refund those bonds, 2-5 are outstanding. 2-6 (c) If sufficient funds are not available to the board to 2-7 meet its obligations under Subsections (a) and (b), above, the 2-8 board may transfer funds among institutions, branches, and entities 2-9 of The Texas A&M University System to ensure the most equitable and 2-10 efficient allocation of available resources for each institution, 2-11 branch, or entity to carry out its constitutional and statutory 2-12 duties and purposes. 2-13 SECTION 2. The importance of this legislation and the 2-14 crowded conditions of the calendars in both houses create an 2-15 emergency and an imperative public necessity that the 2-16 constitutional rule requiring bills to be read on three several 2-17 days in each house be suspended, and this rule is hereby suspended.