1-1 By: Averitt (Senate Sponsor - Brown) H.B. No. 3329 1-2 (In the Senate - Received from the House April 25, 2001; 1-3 April 26, 2001, read first time and referred to Committee on 1-4 Natural Resources; May 11, 2001, reported favorably, as amended, by 1-5 the following vote: Yeas 4, Nays 0; May 11, 2001, sent to 1-6 printer.) 1-7 COMMITTEE AMENDMENT NO. 1 By: Brown 1-8 Amend H.B. 3329 by adding the following: 1-9 1. Amend Subsection (b) of Subchapter B, Chapter 1372.022, 1-10 Government Code, to read as follows: 1-11 (b) Prior to August 15 of each year through September 1, 2003: 1-12 (1) 25 percent of the state ceiling is available exclusively 1-13 for reservations by issuers of qualified mortgage bonds; 1-14 (2) 11 percent of the state ceiling is available exclusively 1-15 for reservations by issuers of state-voted issues; 1-16 (3) 7.5 percent of the state ceiling is available 1-17 exclusively for reservations by issuers of qualified small issue 1-18 bonds and enterprise zone facility bonds; 1-19 (4) 16.5 percent of the state ceiling is available 1-20 exclusively for reservations by issuers of qualified residential 1-21 rental projects bonds; 1-22 (5) 10.5 percent of the state ceiling is available 1-23 exclusively for reservations by issuers of qualified student loan 1-24 bonds authorized by Section 53.47, Education Code; and 1-25 (6) 29.5 percent of the state ceiling is available 1-26 exclusively for reservations by any other issuer of bonds that 1-27 require an allocation. The board shall issue 2 percent of the 1-28 allocation based on a priority level for projects for the 1-29 development of new drinking water sources. 1-30 2. The amendment of this section by any other act of the 77th 1-31 Legislature Regular session does not take effect and this amendment 1-32 takes effect regardless of the relative date of enactment. 1-33 A BILL TO BE ENTITLED 1-34 AN ACT 1-35 relating to tax-exempt private activity bonds. 1-36 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-37 SECTION 1. Section 1372.022, Government Code, is amended by 1-38 adding Subsection (c) to read as follows: 1-39 (c) This section expires September 1, 2003. 1-40 SECTION 2. Subchapter B, Chapter 1372, Government Code, is 1-41 amended by adding Section 1372.0235 to read as follows: 1-42 Sec. 1372.0235. DEDICATION OF PORTION OF STATE CEILING TO 1-43 TEXAS AGRICULTURAL FINANCE AUTHORITY. (a) Until June 1, of that 1-44 portion of the state ceiling that is available exclusively for 1-45 reservations by issuers of qualified small issue bonds and 1-46 enterprise zone facility bonds, one-third is available exclusively 1-47 to the Texas Agricultural Finance Authority for the purpose of 1-48 issuing qualified small issue bonds and enterprise zone facility 1-49 bonds in rural areas of the state. 1-50 (b) For purposes of this section, the governing body of the 1-51 Texas Agricultural Finance Authority determines what constitutes a 1-52 rural area of the state. 1-53 SECTION 3. Section 1372.028(d), Government Code, is amended 1-54 to read as follows: 1-55 (d) An issuer is not required to provide the statement 1-56 required by Subsection (c)(3)(F) if the issuer: 1-57 (1) is an issuer of a state-voted issue; 1-58 (2) is the Texas Department of Housing and Community 1-59 Affairs or the Texas Agricultural Finance Authority; or 1-60 (3) provides evidence that one or more binding 1-61 contracts have been entered into, or other evidence acceptable to 1-62 the board as described by program rule, to spend the unexpended 1-63 proceeds by the later of: 2-1 (A) 12 months after the date the board receives 2-2 the application; or 2-3 (B) December 31 of the program year for which 2-4 the application is filed. 2-5 SECTION 4. (a) In accordance with Section 311.031(c), 2-6 Government Code, which gives effect to a substantive amendment 2-7 enacted by the same legislature that codifies the amended statute, 2-8 the text of Section 1372.028(d), Government Code, as set out in 2-9 this Act, gives effect to changes made by Chapter 131, Acts of the 2-10 76th Legislature, Regular Session, 1999. 2-11 (b) To the extent of any conflict, this Act prevails over 2-12 another Act of the 77th Legislature, Regular Session, 2001, 2-13 relating to nonsubstantive additions and corrections in enacted 2-14 codes. 2-15 SECTION 5. This Act takes effect September 1, 2001. 2-16 * * * * *