Amend HB 2340 as follows:
(1) On page 1, line 7, strike "Section 436.1531" and substitute "Sections 436.1531 and 436.1532".
(2) On page 3, between lines 1 and 2, insert:
Sec. 436.1532. LOANS FOR COMMUNITIES POSITIVELY AFFECTED BY
DEFENSE BASE RESTRUCTURING. (a) The commission may provide a
loan of financial assistance to a defense community for an
infrastructure project to accommodate new or expanded military
missions assigned to a military facility located in, near, or
adjacent to the defense community as a result of the United States
Department of Defense base realignment process. The loan shall be
made from the Texas military value revolving loan account
established under Section 436.156.
(b) On receiving an application for a loan under this
section, the commission shall evaluate the infrastructure project
to determine how the project will assist the defense community in
accommodating the new or expanded military missions that are
assigned to the military facility.
(c) If the commission determines that the project will
assist the defense community in accommodating the new or expanded
military missions that are assigned to the military facility, the
commission shall:
(1) analyze the creditworthiness of the defense
community to determine the defense community's ability to repay the
loan; and
(2) evaluate the feasibility of the project to be
financed to ensure that the defense community has pledged a source
of revenue or taxes sufficient to repay the loan for the project.
(d) If the commission determines that the funds will be used
to finance an infrastructure project to accommodate new or expanded
military missions assigned to the military facility located in,
near, or adjacent to the defense community and that the project is
financially feasible, the commission may award a loan to the
defense community for the project. The commission shall enter into
a written agreement with a defense community that is awarded a loan.
The agreement must contain the terms and conditions of the loan,
including the loan repayment requirements.
(e) The commission shall notify the Texas Public Finance
Authority of the amount of the loan and the recipient of the loan
and request the authority to issue general obligation bonds in an
amount necessary to fund the loan. The commission and the authority
shall determine the amount and time of a bond issue to best provide
funds for one or multiple loans.
(f) The commission shall administer the loans to ensure full
repayment of the general obligation bonds issued to finance the
project.
(g) A project financed with a loan under this section must
be completed on or before the fifth anniversary of the date the loan
is awarded.
(h) The amount of a loan under this section may not exceed
the total cost of the project.
(3) On page 4, line 5, strike "or" and substitute "[or]".
(4) On page 4, line 8, between "community" and the period,
insert the following:
; or
(5) a defense base development authority created under
Chapter 379B, Local Government Code
(5) Add the following appropriately numbered SECTION to the
bill and renumber the remaining SECTIONS of the bill as
appropriate:
SECTION 6. Subchapter A, Chapter 486, Government Code, is
amended by adding Section 486.010 to read as follows:
Sec. 486.010. DEFENSE-DEPENDENT COMMUNITY WITH MORE THAN
ONE MILITARY FACILITY. For purposes of the preference for
adversely affected defense-dependent communities under Section
486.002(b), a defense-dependent community that contains or is near
more than one military facility is considered an adversely affected
defense-dependent community if the local governmental entity is
applying for a grant under this subchapter for a project relating to
the military facility that is closed or whose operations are
significantly reduced.