76R10091 KEL-F
By Barrientos, et al. S.B. No. 184
Substitute the following for S.B. No. 184:
By Averitt C.S.S.B. No. 184
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 52.01, Education Code, is amended to read
1-7 as follows:
1-8 Sec. 52.01. ADMINISTRATION. The Texas Higher Education
1-9 Coordinating Board, or its successors, shall administer the student
1-10 loan program authorized by this chapter pursuant to Article III,
1-11 Sections 50b, 50b-1, 50b-2, 50b-3, [and] 50b-4, and 50b-5 of the
1-12 Texas Constitution. Personnel and other expenses required to
1-13 properly administer this chapter shall be funded by:
1-14 (1) the general appropriations acts; or
1-15 (2) any other source of revenue received by the board
1-16 in connection with the operation of the student loan program.
1-17 SECTION 2. Section 52.501(4), Education Code, is amended to
1-18 read as follows:
1-19 (4) "Bond" means a general obligation bond issued by
1-20 the board under Article III, Section 50b, 50b-1, 50b-2, 50b-3, [or]
1-21 50b-4, or 50b-5 of the Texas Constitution.
1-22 SECTION 3. Section 52.81(2), Education Code, is amended to
1-23 read as follows:
1-24 (2) "Bond" means a general obligation bond issued by
2-1 the board under Article III, Section 50b-3, [or] 50b-4, or 50b-5 of
2-2 the Texas Constitution.
2-3 SECTION 4. Section 52.82(a), Education Code, is amended to
2-4 read as follows:
2-5 (a) The board may by resolution authorize the issuance of
2-6 general obligation bonds in total aggregate amounts not to exceed:
2-7 (1) $300 million under Section 50b-3, Article III,
2-8 Texas Constitution; [and]
2-9 (2) $300 million under Section 50b-4, Article III,
2-10 Texas Constitution; and
2-11 (3) $400 million under Section 50b-5, Article III,
2-12 Texas Constitution.
2-13 SECTION 5. Section 52.87, Education Code, is amended to read
2-14 as follows:
2-15 Sec. 52.87. MANDAMUS. The performance of official duties
2-16 prescribed by this subchapter and Article III, Sections 50b-3,
2-17 [and] 50b-4, and 50b-5 of the Texas Constitution, in reference to
2-18 the payment of the bonds, may be enforced in a court of competent
2-19 jurisdiction by mandamus or other appropriate proceedings.
2-20 SECTION 6. This Act takes effect on the date on which the
2-21 constitutional amendment proposed by the 76th Legislature, Regular
2-22 Session, 1999, providing for the issuance of $400 million in
2-23 general obligation bonds to finance educational loans to students
2-24 takes effect. If that amendment is not approved by the voters,
2-25 this Act has no effect.
2-26 SECTION 7. The importance of this legislation and the
2-27 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.