SRC-JJJ S.B. 1343 76(R) BILL ANALYSIS Senate Research Center S.B. 1343 76R4063 KEL-DBy: Bivins Education 3/29/1999 As Filed DIGEST Currently, Texas law authorizes the governing body of a city or cities to create nonprofit corporations which may issue bonds for institutions of higher education, or primary or secondary schools to finance or refinance facilities. This method of financing requires no commitment of public funds and is entirely a market driven process. S.B. 1343 would allow corporations to issue bonds to assist open enrollment charter schools. PURPOSE As proposed, S.B. 1343 establishes provisions relating to the issuance of bonds to finance or refinance certain facilities used by an open-enrollment charter school. 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 Section 53,02, Education Code, by adding Subdivision (13), to define "authorized charter school" as an open-enrollment charter school that holds a charter granted under Chapter 12D. SECTION 2. Amends Section 53.48, Education Code, to authorize the issuance of certain bonds to finance or refinance educational facilities to be used by an accredited primary or secondary school or by an authorized charter school. SECTION 3. Emergency clause. Effective date: upon passage.