By:  Bivins                                           S.B. No. 1897
         Line and page numbers may not match official copy.
         Bill not drafted by TLC or Senate E&E.
                                A BILL TO BE ENTITLED
                                       AN ACT
 1-1     relating to the issuance of bonds by certain private schools under
 1-2     the Higher Education Authority Act.
 1-3           BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
 1-4           SECTION 1.  Section 53.02(12), Education Code, is amended to
 1-5     read as follows:
 1-6                 (12)  "Primary ["Accredited primary] or secondary
 1-7     school" includes [means a primary or secondary school, including] a
 1-8     preschool[, that is accredited by an accreditation body that is a
 1-9     member of the Texas Private School Accreditation Commission].
1-10           SECTION 2.  Section 53.48, Education Code, is amended to read
1-11     as follows:
1-12           Sec. 53.48.  BONDS FOR [ACCREDITED] PRIMARY OR SECONDARY
1-13     SCHOOLS.  (a)  In the same manner that a corporation may issue
1-14     bonds under this chapter for an institution of higher education, a
1-15     corporation created under Section 53.35(b) may issue bonds to
1-16     finance or refinance educational facilities or housing facilities
1-17     to be used by a [an accredited] primary or secondary school that is
1-18     accredited by an accreditation body that is a member of the Texas
1-19     Private School Accreditation Commission.
1-20           (b)  In the same manner that a corporation may issue bonds
1-21     under this chapter for an institution of higher education, a
1-22     corporation created under Section 53.35(b) may issue bonds to
 2-1     finance or refinance educational facilities or housing facilities
 2-2     to be used by a primary or secondary school that is not accredited
 2-3     if, on the date the bonds are issued:
 2-4                 (1)  the school has provided educational services to
 2-5     students for less than two years; or
 2-6                 (2)  the school has not yet begun to provide
 2-7     educational services to students.
 2-8           (c)  A corporation created under Section 53.35(b) may issue
 2-9     refunding bonds to refund bonds issued under Subsection (b) only
2-10     if, on the date the refunding bonds are issued, the school has
2-11     applied for or is accredited by an accreditation body that is a
2-12     member of the Texas Private School Accreditation Commission.
2-13           SECTION 3.  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 from and after its
2-19     passage, and it is so enacted.