AN ACT
1-1 relating to the student loan program administered by the Texas
1-2 Higher Education Coordinating Board; authorizing the issuance of
1-3 bonds.
1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-5 SECTION 1. Section 52.01, Education Code, is amended to read
1-6 as follows:
1-7 Sec. 52.01. ADMINISTRATION. The Texas Higher Education
1-8 Coordinating Board, or its successors, shall administer the student
1-9 loan program authorized by this chapter pursuant to Article III,
1-10 Sections 50b, 50b-1, 50b-2, 50b-3, [and] 50b-4, and 50b-5 of the
1-11 Texas Constitution. Personnel and other expenses required to
1-12 properly administer this chapter shall be funded by:
1-13 (1) the general appropriations acts; or
1-14 (2) any other source of revenue received by the board
1-15 in connection with the operation of the student loan program.
1-16 SECTION 2. Subdivision (4), Section 52.501, Education Code,
1-17 is amended to read as follows:
1-18 (4) "Bond" means a general obligation bond issued by
1-19 the board under Article III, Section 50b, 50b-1, 50b-2, 50b-3, [or]
1-20 50b-4, or 50b-5 of the Texas Constitution.
1-21 SECTION 3. Subdivision (2), Section 52.81, Education Code,
1-22 is amended to read as follows:
1-23 (2) "Bond" means a general obligation bond issued by
1-24 the board under Article III, Section 50b-3, [or] 50b-4, or 50b-5 of
2-1 the Texas Constitution.
2-2 SECTION 4. Subsection (a), Section 52.82, Education Code, is
2-3 amended to read as follows:
2-4 (a) The board may by resolution authorize the issuance of
2-5 general obligation bonds in total aggregate amounts not to exceed:
2-6 (1) $300 million under Section 50b-3, Article III,
2-7 Texas Constitution; [and]
2-8 (2) $300 million under Section 50b-4, Article III,
2-9 Texas Constitution; and
2-10 (3) $400 million under Section 50b-5, Article III,
2-11 Texas Constitution.
2-12 SECTION 5. Section 52.87, Education Code, is amended to read
2-13 as follows:
2-14 Sec. 52.87. MANDAMUS. The performance of official duties
2-15 prescribed by this subchapter and Article III, Sections 50b-3,
2-16 [and] 50b-4, and 50b-5 of the Texas Constitution, in reference to
2-17 the payment of the bonds, may be enforced in a court of competent
2-18 jurisdiction by mandamus or other appropriate proceedings.
2-19 SECTION 6. This Act takes effect on the date on which the
2-20 constitutional amendment proposed by the 76th Legislature, Regular
2-21 Session, 1999, providing for the issuance of $400 million in
2-22 general obligation bonds to finance educational loans to students
2-23 takes effect. If that amendment is not approved by the voters,
2-24 this Act has no effect.
2-25 SECTION 7. The importance of this legislation and the
2-26 crowded condition of the calendars in both houses create an
3-1 emergency and an imperative public necessity that the
3-2 constitutional rule requiring bills to be read on three several
3-3 days in each house be suspended, and this rule is hereby suspended,
3-4 and that this Act take effect and be in force according to its
3-5 terms, and it is so enacted.
_______________________________ _______________________________
President of the Senate Speaker of the House
I hereby certify that S.B. No. 184 passed the Senate on
April 8, 1999, by the following vote: Yeas 30, Nays 0; and that
the Senate concurred in House amendment on May 10, 1999, by the
following vote: Yeas 29, Nays 0.
_______________________________
Secretary of the Senate
I hereby certify that S.B. No. 184 passed the House, with
amendment, on May 6, 1999, by the following vote: Yeas 143,
Nays 0, one present not voting.
_______________________________
Chief Clerk of the House
Approved:
_______________________________
Date
_______________________________
Governor