BILL ANALYSIS
Senate Research Center C.S.S.B. 500
81R7592 EAH-D By: Shapiro
Committee Report (Substituted)
AUTHOR'S / SPONSOR'S STATEMENT OF INTENT
The Cultural Education Facilities Finance Corporation Act (Act) was originally enacted in the 69th Legislature on June 14, 1985. Certain cultural organizations have been unable to finance their activities due to restrictive interpretations of the Act.
C.S.S.B. 500 redefines "cultural facility." C.S.S.B. 500 also requires the creation of the cultural education facilities finance corporation (corporation) and authorizes the corporation to exercise its powers on behalf of a user outside this state if the user also conducts lawful activities in this state.
RULEMAKING AUTHORITY
This bill does not expressly grant any additional rulemaking authority to a state officer, institution, or agency.
SECTION BY SECTION ANALYSIS
SECTION 1. Amends Section 3(5), Cultural Education Facilities Finance Corporation Act (Article 1528m, V.T.C.S.), to redefine "cultural facility."
SECTION 2. Amends Section 4, Cultural Education Facilities Finance Corporation Act (Article 1528m, V.T.C.S.), by amending Subsection (b) and adding Subsection (e), as follows:
(b) Requires that the cultural education facilities finance corporation (corporation) 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, and have the same powers, authority, and rights with respect to certain facilities.
(e) Authorizes the corporation, regardless of any other provision in Chapter 221, Health and Safety Code, or Chapter 53 (Higher Education Facility Authorities for Public Schools), Education Code, to exercise its powers on behalf of a user outside this state if the user also conducts lawful activities in this state.
SECTION 3. Effective date: upon passage or September 1, 2009.