Amend CSSB 322 by adding the following appropriately numbered
SECTION to ARTICLE 10 of the bill and renumbering subsequent
SECTIONS in ARTICLE 10 appropriately:
      SECTION ____. Section 1372.033, Government Code, is amended
by adding Subsections (c) and (d) to read as follows:
      (c)  The board shall grant a reservation to an issuer
described by Subsection (a) in an amount not to exceed the lesser
of:
            (1)  $35 million;
            (2)  the full amount of the state ceiling for qualified
student loan bonds for which the issuer applied; or
            (3)  the amount of the state ceiling for qualified
student loan bonds remaining after reservations have been granted
to issuers with a higher priority under Subsection (a).
      (d)  Notwithstanding Subsection (c)(1) or Section
1372.037(5), after each issuer described by Subsection (a) that
applies for a reservation has been offered a reservation in the
maximum amount available to the issuer, the board shall grant in
equal portions, as additional reservations, any remaining amount of
the state ceiling for qualified student loan bonds to issuers that:
            (1)  received and accepted a reservation; and
            (2)  do not refuse an additional reservation under this
subsection.