By Hunter H.B. No. 3044
Line and page numbers may not match official copy.
Bill not drafted by TLC or Senate E&E.
A BILL TO BE ENTITLED
1-1 AN ACT
1-2 relating to the student loan program administered by the Texas
1-3 Higher Education Coordinating Board; authorizing the issuance of
1-4 bonds.
1-5 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-6 SECTION 1. Section 52.81(2), Education Code, is amended to
1-7 read as follows:
1-8 (2) "Bond" means a general obligation bond issued by
1-9 the board under Article III, Section 50b-3, [or] 50b-4, or 50b-5 of
1-10 the Texas Constitution.
1-11 SECTION 2. Section 52.82(a), Education Code, is amended to
1-12 read as follows:
1-13 (a) The board may by resolution authorize the issuance of
1-14 general obligation bonds in total aggregate amounts not to exceed:
1-15 (1) $300 million under Section 50b-3, Article III,
1-16 Texas Constitution; [and]
1-17 (2) $300 million under Section 50b-4, Article III,
1-18 Texas Constitution; and
1-19 (3) $400 million under Section 50b-5, Article III,
1-20 Texas Constitution.
1-21 SECTION 3. Section 52.87, Education Code, is amended to read
2-1 as follows:
2-2 Sec. 52.87. MANDAMUS. The performance of official duties
2-3 prescribed by this subchapter and Article III, Sections 50b-3,
2-4 [and] 50b-4, and 50b-5 of the Texas Constitution, in reference to
2-5 the payment of the bonds, may be enforced in a court of competent
2-6 jurisdiction by mandamus or other appropriate proceedings.
2-7 SECTION 4. This Act takes effect on the date on which the
2-8 constitutional amendment proposed by the 76th Legislature, Regular
2-9 Session, 1999, providing for the issuance of $400 million in
2-10 general obligation bonds to finance educational loans to students,
2-11 takes effect. If that amendment is not approved by the voters, this
2-12 Act has no effect.
2-13 SECTION 5. The importance of this legislation and the
2-14 crowded condition of the calendars in both houses create an
2-15 emergency and an imperative public necessity that the
2-16 constitutional rule requiring bills to be read on three several
2-17 days in each house be suspended, and this rule is hereby suspended,
2-18 and that this Act take effect and be in force according to its
2-19 terms, and it is so enacted.