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AN ACT
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relating to the limitation on the liability of the nonprofit |
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corporation established by the Texas Public Finance Authority to |
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issue revenue bonds for open-enrollment charter schools to provide |
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educational facilities. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 53.351(b), Education Code, is amended to |
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read as follows: |
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(b) The Texas Public Finance Authority shall appoint the |
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directors of the corporation in consultation with the commissioner |
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of education and subject to the approval of the |
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governor. Directors serve without compensation but are entitled |
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to reimbursement for travel expenses incurred in attending board |
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meetings. The board shall meet at least once a year. |
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SECTION 2. Subchapter C, Chapter 53, Education Code, is |
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amended by adding Section 53.352 to read as follows: |
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Sec. 53.352. LIMITATION ON LIABILITY OF CORPORATION. A |
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director, officer, or employee of the nonprofit corporation |
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established by the Texas Public Finance Authority under Section |
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53.351 is not personally liable: |
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(1) for damage, loss, or injury resulting from the |
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performance of the person's duties under Section 53.351; or |
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(2) on any commitment or agreement executed on behalf |
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of the corporation under Section 53.351. |
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SECTION 3. This Act takes effect immediately if it receives |
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a vote of two-thirds of all the members elected to each house, as |
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provided by Section 39, Article III, Texas Constitution. If this |
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Act does not receive the vote necessary for immediate effect, this |
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Act takes effect September 1, 2015. |
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______________________________ |
______________________________ |
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President of the Senate |
Speaker of the House |
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I certify that H.B. No. 2851 was passed by the House on May |
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11, 2015, by the following vote: Yeas 134, Nays 1, 1 present, not |
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voting. |
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______________________________ |
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Chief Clerk of the House |
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I certify that H.B. No. 2851 was passed by the Senate on May |
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26, 2015, by the following vote: Yeas 31, Nays 0. |
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______________________________ |
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Secretary of the Senate |
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APPROVED: _____________________ |
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Date |
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_____________________ |
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Governor |