AUTHOR'S / SPONSOR'S STATEMENT OF INTENT

 

Interested parties contend that public state colleges have developed beyond commuter schools and that, as a result, they have a growing need to provide housing for their students, faculty, and staff. Housing facilities for housing or boarding student, faculty, or staff members of a public state college are not currently authorized projects under the Development Corporation Act. The goal of H.B. 2473 is to expand a development corporation's authorized expenditures to provide funding for much needed student and faculty housing for public state colleges.

 

H.B. 2473 amends current law relating to use of sales and use tax proceeds by economic development corporations in connection with housing facilities for certain institutions of higher education.

 

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 Subchapter D, Chapter 501, Local Government Code, by adding Section 501.163, as follows:

 

Sec. 501.163.  USE OF TAX REVENUE FOR HOUSING FACILITIES FOR PUBLIC STATE COLLEGES.  (a) Defines, in this section, “housing facility” and “public state college.”

 

(b) Authorizes a corporation to spend tax revenue received under this subtitle for expenditures that are for the development or construction of housing facilities on or adjacent to the campus of a public state college.

 

SECTION 2. Effective date: upon passage or September 1, 2013.