Honorable Geanie Morrison, Chair, House Committee on Higher Education
John S. O'Brien, Deputy Director, Legislative Budget Board
HB1537 by Wong (Relating to authorizing the issuance of revenue bonds for The University of Texas M.D. Anderson Cancer Center facilities and infrastructure.), As Introduced
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GENERAL REVENUE FUND
The bill would authorize the issuance of a maximum of $40 million in revenue bonds by the University of Texas System for the University of Texas M. D. Anderson Cancer Center for facilities and infrastructure.
The bonds would be payable from pledged revenue plus tuition. The bonds would not be general obligations of the State. However, the issued bonds would have fiscal implications for the State. Although tuition income is pledged against the bonds, historically the Legislature has appropriated General Revenue to reimburse institutions for the tuition used to pay the debt service. It is assumed the Legislature would continue this policy.
347 Public Finance Authority, 352 Bond Review Board, 720 The University of Texas System Administration, 781 Higher Education Coordinating Board
JOB, CT, RT