SRC-MWN S.B. 1314 77(R)   BILL ANALYSIS


Senate Research Center   S.B. 1314
77R975 KKA-FBy: Staples
Education
5/2/2001
As Filed


DIGEST AND PURPOSE 

Current law allows  school districts with eligible bonds to receive state
assistance for making debt service payments available through a guaranteed
yield formula with certain limitations. As proposed, S.B. 1314 provides
that school bonds are eligible to be paid with state and local funds if the
district made payments on the bonds during the 1998-1999 school year. 

RULEMAKING AUTHORITY

This bill does not expressly grant any additional rulemaking authority to a
state officer, institution, or agency. 

SECTION BY SECTION ANALYSIS

SECTION 1. Amends Section 46.033, Education Code, to provide that bonds,
including bonds issued under Section 45.006, are eligible to be paid with
state and local funds if the district made payments on the bond during the
1998-1999 school year or taxes levied to pay the principal of an interest
on the bonds were included in the district's audited debt service
collections for that school year. Makes a conforming change. 

SECTION 2. Effective date: September 1, 2001.