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79R974 KCR-D

By:  Wentworth, Jackson, Williams                                 S.B. No. 379



A BILL TO BE ENTITLED

AN ACT

relating to authorizing the issuance of not more than $10 million in 
revenue bonds for the purchase and retirement of certain commercial 
fishing, shrimping, and crabbing licenses.
	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:                        
	SECTION 1  Subchapter A, Chapter 12, Parks and Wildlife 
Code, is amended by adding Section 12.0091 to read as follows:
	Sec. 12.0091.  REVENUE BONDS FOR CERTAIN BUYBACK PROGRAMS. 
(a)  The department, by resolution of the commission, may request 
the Texas Public Finance Authority to issue revenue bonds or other 
revenue obligations to finance the purchase and retirement of 
licenses under Section 47.081, 77.119, or 78.111 at an aggregated 
cost not to exceed $10 million.
	(b)  On receipt of a request by the department under this 
section, the authority shall promptly issue the bonds or other 
revenue obligations under and in accordance with Chapters 1201 and 
1232, Government Code, and other provisions of Title 9, Government 
Code, applicable to revenue bonds.  Section 1232.066(a), Government 
Code, does not apply to this section.
	(c)  The department shall deposit the proceeds of revenue 
bonds or other revenue obligations issued under this section to the 
credit of the game, fish, and water safety account and may use the 
proceeds only to buy back and permanently retire licenses under 
Section 47.081, 77.119, or 78.111.
	(d)  The department may not pay more than $7,500 for a 
license purchased and retired with the proceeds from the bonds or 
other revenue obligations issued under this section.
	(e)  The repayment of bonds issued under this section must be 
paid from the revenue collected from the fees and surcharges 
charged by the department for the saltwater sportfishing stamp 
under Subchapter M, Chapter 43.
	SECTION 2.  The legislature finds that the issuance and 
repayment of bonds under Section 12.0091, Parks and Wildlife Code, 
as added by this Act:
		(1)  is essential to the effective enforcement and 
management of coastal fisheries; and
		(2)  increases the value of each saltwater sportfishing 
stamp issued by the Parks and Wildlife Department and each 
commercial license the department issues for the finfish, shrimp, 
or crab fishing industries.
	SECTION 3.  This Act takes effect immediately if it receives 
a vote of two-thirds of all the members elected to each house, as 
provided by Section 39, Article III, Texas Constitution.  If this 
Act does not receive the vote necessary for immediate effect, this 
Act takes effect September 1, 2005.