H.B. 2029 78(R)    BILL ANALYSIS


H.B. 2029
By: Miller
County Affairs
Committee Report (Unamended)



BACKGROUND AND PURPOSE 

The Act creating the Hamilton County Hospital District (district) was
passed by the 70th Legislature in 1987 and amended by the 71st Legislature
in 1989.  The district's enabling legislation requires an amendment to
allow the district to use a combination of taxes and revenues to pay for
and secure bonds issued by the district. The district can currently use
taxes or revenues to pay for and secure bonds, but without such an
amendment, the district cannot use a combination of taxes and revenues to
pay for and secure bonds issued by the district. House Bill 2029
authorizes the Hamilton County Hospital District to use a combination of
taxes and revenues to pay for and secure bonds issued by the district.
This flexibility is anticipated to improve the district's credit and
therefore reduce its cost of borrowing for new and improved medical
facilities. 

RULEMAKING AUTHORITY

It is the committee's opinion that this bill does not expressly grant any
additional rulemaking authority to a state officer, department, agency, or
institution. 

ANALYSIS

House Bill 2029 authorizes the board of directors of the district to
provide for the security and payment of district bonds from a combination
of taxes and revenues of the district. (SECTION 1). 


EFFECTIVE DATE

On passage, or if the Act does not receive the necessary vote, the Act
takes effect September 1, 2003.