By Harris                                              S.B. No. 172
         76R3629 WP-D                           
                                A BILL TO BE ENTITLED
 1-1                                   AN ACT
 1-2     relating to the definition of a qualified commercial loan.
 1-3           BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
 1-4           SECTION 1.  Subdivision (9), Article 1H.001, Title 79,
 1-5     Revised Statutes (Article 5069-1H.001, Vernon's Texas Civil
 1-6     Statutes), is amended to read as follows:
 1-7                 (9)  "Qualified commercial loan" means:
 1-8                       (A)  a commercial loan in the original principal
 1-9     amount of $1,000,000 [$3,000,000] or more; or
1-10                       (B)  a renewal or extension of a commercial loan
1-11     in the original principal amount of $1,000,000 [$3,000,000] or
1-12     more, whether the principal amount of the loan at the time of its
1-13     renewal or extension is $1,000,000 [$3,000,000] or more.
1-14           SECTION 2.  Subdivision (9), Section 306.001, Finance Code,
1-15     is amended to read as follows:
1-16                 (9)  "Qualified commercial loan" means:
1-17                       (A)  a commercial loan in the original principal
1-18     amount of $1 million [$3 million] or more; or
1-19                       (B)  a renewal or extension of a commercial loan
1-20     in the original principal amount of $1 million [$3 million] or
1-21     more, regardless of whether the principal amount of the loan when
1-22     renewed or extended is $1 million [$3 million] or more.
1-23           SECTION 3.  (a)  Except as provided by Subsections (b) and
1-24     (c) of this section, this Act takes effect September 1, 1999.
 2-1           (b)  Section 1 of this Act takes effect only if the Act of
 2-2     the 76th Legislature, Regular Session, 1999, relating to
 2-3     nonsubstantive additions to and corrections in enacted codes does
 2-4     not take effect.
 2-5           (c)  Section 2 of this Act takes effect only if the Act of
 2-6     the 76th Legislature, Regular Session, 1999, relating to
 2-7     nonsubstantive additions to and corrections in enacted codes takes
 2-8     effect.
 2-9           SECTION 4.  The importance of this legislation and the
2-10     crowded condition of the calendars in both houses create an
2-11     emergency and an imperative public necessity that the
2-12     constitutional rule requiring bills to be read on three several
2-13     days in each house be suspended, and this rule is hereby suspended.