TO: | Honorable Geanie Morrison, Chair, House Committee on Higher Education |
FROM: | John S. O'Brien, Director, Legislative Budget Board |
IN RE: | HB3727 by Kolkhorst (Relating to authorizing the issuance of tuition revenue bonds for Sam Houston State University for facilities in Montgomery County.), As Introduced |
Fiscal Year | Probable Net Positive/(Negative) Impact to General Revenue Related Funds |
---|---|
2008 | ($1,298,872) |
2009 | ($2,596,743) |
2010 | ($2,596,743) |
2011 | ($2,596,743) |
2012 | ($2,596,743) |
Fiscal Year | Probable (Cost) from GENERAL REVENUE FUND 1 |
---|---|
2008 | ($1,298,872) |
2009 | ($2,596,743) |
2010 | ($2,596,743) |
2011 | ($2,596,743) |
2012 | ($2,596,743) |
The bill would authorize the Texas State University System to issue tuition revenue bonds for Sam Houston State University in an amount not to exceed $30,000,000. Under provisions of the bill, the board of regents of the Texas State University System could acquire, purchase, construct, improve, renovate, enlarge, or equip property, buildings, structures, or other facilities, including roads and related infrastructure, for Sam Houston State University for educational and related facilities in Montgomery County. The System could not issue the bonds until the board of regents approves the acquisition of real property in Montgomery County for the educational and related facilities financed through the bonds.
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.
Source Agencies: | 758 Texas State University System, 781 Higher Education Coordinating Board, 347 Public Finance Authority, 352 Bond Review Board, 755 Stephen F. Austin State University
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LBB Staff: | JOB, GO, MN, SSh, RT
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