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.