HBA-LCA H.B. 2898 76(R)    BILL ANALYSIS


Office of House Bill AnalysisH.B. 2898
By: Coleman
Urban Affairs
4/3/1999
Introduced



BACKGROUND AND PURPOSE 

Currently, neither an independent school district nor a venue district may
enter into credit agreements or issue short-term obligations, including
commercial paper.  H.B. 2898 allows an independent school district with an
average daily attendance of 190,000 or more, or an approved venue district,
to issue short-term obligations such as commercial paper. 

RULEMAKING AUTHORITY

It is the opinion of the Office of House Bill Analysis that this bill does
not expressly delegate any additional rulemaking authority to a state
officer, department, agency, or institution. 

SECTION BY SECTION ANALYSIS

SECTION 1.  Amends Section 1(1), Article 717q, V.T.C.S., as follows:

1(1)  Includes an independent school district with an average daily
attendance of 190,000 or more, and a venue district created under Chapter
335, Local Government Code (Sports and Community Venue Districts), in the
definition of "issuer." 

SECTION 2.  Amends Section 1(3), Article 717q, V.T.C.S., as follows:
                
1(3)  Includes an improved venue project under Chapter 335, Local
Government Code, in the definition of "eligible project." 

SECTION 3.  Emergency clause.
  Effective date: 90 days after passage.