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A BILL TO BE ENTITLED
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AN ACT
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relating to the removal of certain limitations on the debt issuance |
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of the Cancer Prevention and Research Institute of Texas. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter C, Chapter 1232, Government Code, is |
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amended by adding Section 1232.1221 to read as follows: |
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Sec. 1232.1221. COMMENCEMENT OF CERTAIN MULTIYEAR |
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CANCER-RELATED PROJECTS. A multiyear project for which funds are |
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granted by the Cancer Prevention and Research Institute of Texas |
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Oversight Committee as authorized by Section 102.257, Health and |
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Safety Code, may begin after: |
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(1) the authority has certified that obligations in an |
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amount sufficient to pay the money needed to fund the project have |
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been authorized for issuance by the authority and approved by the |
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Bond Review Board; or |
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(2) the proceeds have been deposited into the state |
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treasury and: |
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(A) the comptroller has certified that the |
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proceeds are available; |
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(B) the reserve funds and capitalized interest, |
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as certified by the authority as reasonably required, have been |
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paid; and |
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(C) the costs of issuing the obligations, as |
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certified by the authority, have been paid. |
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SECTION 2. Section 102.257, Health and Safety Code, is |
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amended to read as follows: |
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Sec. 102.257. MULTIYEAR PROJECTS. The oversight committee |
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may grant funds for a multiyear project. The oversight committee |
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must specify the total amount of [All the] money approved [needed] |
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to fund the [a] multiyear project. The total amount specified is |
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considered for purposes of Section 102.253 to have been [must be] |
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awarded in the state fiscal year that the project is approved by the |
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research and prevention programs committee. The institute shall |
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distribute only the money that will be expended during that fiscal |
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year. The remaining money shall be [maintained in an escrow account
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to be] distributed by the institute as the money is needed in each |
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subsequent fiscal year [years of the project]. |
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SECTION 3. The changes in law made by this Act apply only to |
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a grant of funds for a multiyear project by the Cancer Prevention |
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and Research Institute of Texas Oversight Committee as authorized |
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by Section 102.257, Health and Safety Code, as amended by this Act, |
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made on or after September 1, 2011. A grant of funds for a multiyear |
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project made before that date is governed by the law in effect on |
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the date the grant was made, and the former law is continued in |
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effect for that purpose. |
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SECTION 4. This Act takes effect September 1, 2011. |