SRC-DPW H.B. 2898 76(R) BILL ANALYSIS Senate Research Center H.B. 2898 76R12938 DRH-FBy: Coleman (Whitmire) Intergovernmental Relations 5/12/1999 Engrossed DIGEST Currently, neither an independent school district nor a venue district is authorized to enter into credit agreements or issue short-term obligations. This bill would allow an independent school district with an average daily attendance of 50,000 or more, a municipality or county operating a sports or community venue, or an approved venue district, to issue short-term obligations. PURPOSE As proposed, H.B. 2898 revises the execution of credit agreements and issuance of obligations by certain political subdivisions. 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 Sections 1(1) and (3), Article 717q, V.T.C.S., to redefine "issuer" to include any joint powers agency organized and operating under Chapter 163, Utilities Code, rather than pursuant to Chapter 166, Article 1435a, V.T.C.S.; any metropolitan rapid transit authority created pursuant to Chapter 451 or 452, Transportation Code, rather than pursuant to Chapter 141, Article 1118x, V.T.C.S., or Chapter 683, Article 1118y, V.T.C.S.; an independent school district with an average daily attendance of 50,000 or more; a municipality or county operating under Chapter 334, Local Government Code; and a district created under Chapter 335, Local Government Code. Redefines "eligible project" to include an improved venue project under Chapter 334 or 335, Local Government Code. Makes conforming changes. SECTION 2. Effective date: September 1, 1999. SECTION 3. Emergency clause.