SRC-JLB S.B. 1810 78(R)   BILL ANALYSIS


Senate Research Center   S.B. 1810
By: Whitmire
Intergovernmental Relations
4/22/2003
As Filed


DIGEST AND PURPOSE 

Currently, the Harris County Houston Sports Authority can issue bonds to
finance sports and community venue projects.  As proposed, S.B. 1810
authorizes a sports authority in a county with a population of 3.3 million
or more to issue revenue bonds as a conduit issuer and enter into credit
agreements for the payment of bonds. 

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 Chapter 335, Local Government Code, by adding Section
335.076, as follows: 
 
Sec. 335.076.  ADDITIONAL PROVISIONS FOR DISTRICT IN POPULOUS COUNTY.  (a)
Provides that this section applies only to a venue district (district)
located in whole or in part in a county with a population of 3.3 million
or more. 
 
  (b)  Defines "alternative project."

(c)  Authorizes a district by resolution to provide for the financing,
development, construction or renovation of an alternative project provided
that no funds for the financing, development, construction or renovation
of the project are derived from taxes authorized by Section 335.071(e).
Prohibits the requirements of Subchapter D, subject to the foregoing
limitation, from applying to an alternative project. 
 
(d)  Requires the powers of a district included in this chapter to apply
to an alternative project to the same extent and in the same manner as any
such power applies to an approved venue project. 
 
(e)  Authorizes a district to issue revenue bonds or other obligations,
including refunding bonds, on its own behalf or as a conduit issuer, and
enter into credit agreements, to pay the costs of an alternative project
to the same extent and in the same manner as provided in Section 335.073. 
 
(f)  Provides that an alternative project under this chapter is an
eligible project for the purposes of Chapter 1371 (Obligations for Certain
Public Improvements), Government Code. 

Effective date:  91 days after adjournment.
[Bill as drafted contains no stated effective date.]