S.B. No. 495




AN ACT

relating to the fee paid to the attorney general for examining the 
record of proceedings authorizing the issuance of a public security 
or related credit agreement.
	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:                        
	SECTION 1.  Section 1202.001, Government Code, is amended by 
amending Subdivision (4) and adding Subdivision (5) to read as 
follows:
		(4)  "Record of proceedings" means the record of an 
issuer's proceedings relating to the authorization of a public 
security or a credit agreement relating to a public security.
		(5)  "Credit agreement" means a loan agreement, 
revolving credit agreement, agreement establishing a line of 
credit, letter of credit, reimbursement agreement, insurance 
contract, commitment to purchase a public security, purchase or 
sale agreement, interest rate swap agreement, or commitment or 
other agreement authorized by an issuer in connection with the 
authorization, issuance, sale, resale, security, exchange, 
payment, purchase, remarketing, or redemption of a public security, 
interest on a public security, or both.
	SECTION 2.  Section 1202.004, Government Code, is amended to 
read as follows:
	Sec. 1202.004.  FEE FOR EXAMINATION [OF PUBLIC SECURITY] BY 
ATTORNEY GENERAL.  (a)  When [Except as provided by this section, 
when] an issuer submits a record of proceedings [public security] 
to the attorney general for examination and approval as provided by 
law, the issuer shall pay a nonrefundable examination fee to the 
attorney general in accordance with this section.[, in an amount 
computed according to the principal amount of the public security, 
as follows:

[Principal Amount                                           Fee

[not more than $500,000                                           $500

[more than $500,000 but not more than $5 million                  $750

[more than $5 million but not more than $20 million             $1,000

[more than $20 million                                          $1,250]
	(b)  [If a nonprofit corporation or governmental entity 
issuing the public security for the benefit of nongovernmental 
entities submits the public security to the attorney general as 
required by law, the fee is $1,250.
	[(c)]  If the issuer is issuing multiple series of a single 
public security issue, the issuer shall pay the fee prescribed by 
this section [Subsection (a) or (b)] for each series[, not to exceed 
$2,500 for one issue in which all series are issued 
simultaneously].
	(c)  Except as provided by Subsection (d), the nonrefundable 
examination fee required by this section is equal to the lesser of:
		(1)  one-tenth of one percent of the principal amount 
of the public security to which the record of proceedings relates; 
or
		(2)  $9,500.                                                           
	(d)  The minimum examination fee required by this section is 
$750.    
	(e)  The attorney general may adopt rules necessary to 
administer this section.
	SECTION 3.  The examination fee prescribed by Section 
1202.004, Government Code, as amended by this Act, applies only to a 
record of proceedings submitted to the office of the attorney 
general on or after the effective date of this Act.  The examination 
fee for a record of proceedings submitted to the office of the 
attorney general before the effective date of this Act is governed 
by the law as it existed immediately before the effective date of 
this Act, and the former law is continued in effect for that 
purpose.
	SECTION 4.  This Act takes effect September 1, 2005.                           

                                                                              




______________________________    ______________________________
President of the Senate             Speaker of the House
	I hereby certify that S.B. No. 495 passed the Senate on 
April 7, 2005, by the following vote:  Yeas 31, Nays 0; and that 
the Senate concurred in House amendment on May 26, 2005, by the 
following vote:  Yeas 31, Nays 0.




______________________________ 
   Secretary of the Senate             
	I hereby certify that S.B. No. 495 passed the House, with 
amendment, on May 17, 2005, by a non-record vote.




______________________________ 
   Chief Clerk of the House            



Approved:


______________________________ 
            Date



______________________________ 
          Governor