BILL ANALYSIS
By: Shapiro
Culture, Recreation, & Tourism
BACKGROUND AND PURPOSE
Current law (Article 1528m, Vernon's Texas Civil Statutes (V.T.C.S.)) regulates certain cultural organizations and facilities. Restrictive interpretations of this law have prevented cultural organizations and facilities from being able to finance their activities.
As proposed, S.B. 1736 authorizes certain nonprofit corporations and organizations, including charitable organizations, to finance any activity in which the entity is permitted to engage. This bill also expands the definition of "cultural facility" to include "any capital expenditure by a user."
RULEMAKING AUTHORITY
It is the committee's opinion that this bill does not expressly grant any additional rulemaking authority to a state officer, department, agency, or institution.
ANALYSIS
SECTION 1. Amends Section 3, Subdivision(5), Cultural Education Facilities Finance Corporation Act (Article 1528m, Vernon's Texas Civil Statutes (V.T.C.S.)), to redefine "cultural facility" by including language in the definition.
SECTION 2. Amends Section 4, Subsection(b), Cultural Education Facilities Finance Corporation Act (Article 1528m, V.T.C.S.), to require the cultural education facilities finance corporation to be created and organized in the same manner as a health facilities development corporation under Chapter 221 (Health Facilities Development Act), Health and Safety Code.
SECTION 3. Effective date: upon passage or September 1, 2007.
EFFECTIVE DATE
September 1, 2007.