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.