SRC-DBM S.B. 1897 76(R)   BILL ANALYSIS


Senate Research Center   S.B. 1897
By: Bivins
Education
5/3/1999
As Filed


DIGEST 


PURPOSE

As proposed, S.B. 1897 regulates the issuance of bonds by certain private
schools under the Higher Education Authority Act. 

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(12), Education Code, to define "primary or
secondary school." Deletes the definition of "accredited primary or
secondary school." 

SECTION 2.  Amends Section 53.48, Education Code, as follows:

Sec. 53.48.  New heading:  BONDS FOR PRIMARY OR SECONDARY SCHOOLS.
Authorizes a corporation created under Section 53.35(b) to issue bonds to
finance or refinance educational facilities or housing facilities to be
used by a primary or secondary school, rather than an accredited primary or
secondary school, that is accredited by an accreditation body that is a
member of the Texas School Accreditation Commission, in the same manner
that a corporation may issue bonds under this chapter for an institution of
higher education. Authorizes a corporation created under Section 53.35(b)
to issue bonds to finance or refinance educational facilities or housing
facilities to be used by a primary or secondary school that is not
accredited under certain conditions on the date the bonds are issued, in
the same manner that a corporation may issue bonds under this chapter for
an institution of higher education. Authorizes a corporation created under
Section 53.35(b) to issue refunding bonds to refund bonds issued under
Subsection (b) only under certain conditions. 

SECTION 3.Emergency clause.
  Effective date: upon passage.