BILL ANALYSIS

H.B. 1809

By: Lucio III

Ways & Means

Committee Report (Unamended)

BACKGROUND AND PURPOSE

Current law authorizes cities and counties to create cultural education facilities finance corporations that may issue bonds to finance the acquisition, construction, or renovation of cultural facilities, health facilities, and educational facilities. Interested parties contend that local communities will benefit from revisions to laws relating to such corporations. H.B. 1809 seeks to address this issue by granting additional authority to such corporations.

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

H.B. 1809 amends Sections 4(c) and (d), Cultural Education Facilities Finance Corporation Act (Article 1528m, Vernon's Texas Civil Statues) to include among the powers of a cultural education facilities finance corporation the power to finance the acquisition of property with respect to a facility, including by lease-purchase. The bill removes from statutory provisions authorizing a cultural education facilities finance corporation to exercise its authority inside or outside the limits of the county that created the corporation if the county has a population of more than 300,000, or inside or outside the limits of the city that created the corporation if the city is located in such a county, the restrictions of this authority based upon the county population.

EFFECTIVE DATE

On passage, or, if the bill does not receive the necessary vote, September 1, 2013.