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A BILL TO BE ENTITLED
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AN ACT
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relating to financial provisions applicable to certain public |
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hospitals. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 262.012(b), Health and Safety Code, is |
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amended to read as follows: |
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(b) The resolution authorizing the issuance of revenue |
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bonds or the trust indenture securing the bonds may prescribe the |
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method of selecting a majority of the directors and the term of |
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office of those directors, and the terms of directors appointed |
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before the issuance of the bonds are subject to the resolution or |
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trust indenture. The governing body or governing bodies shall |
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appoint the remaining directors. The method of selecting directors |
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and the term of office of those directors prescribed by the |
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resolution or trust indenture remains in place after retirement of |
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the bonds. |
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SECTION 2. Section 262.039(a), Health and Safety Code, is |
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amended to read as follows: |
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(a) This section applies only to an authority that: |
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(1) is located in: |
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(A) a county of 2.4 [3.3] million or more; or |
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(B) a municipality of less than 15,000; |
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(2) has assets that exceed the amount of any [no] |
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outstanding bonds issued under Subchapter D; and |
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(3) does not own or operate a hospital. |
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SECTION 3. Section 315.002(c), Health and Safety Code, is |
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amended to read as follows: |
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(c) A loan authorized by this section must mature: |
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(1) not later than the first anniversary of the date |
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the loan is made, if taxes are pledged to repay the loan; [and] |
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(2) not later than the fifth anniversary of the date |
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the loan is made, if hospital revenue is pledged to repay the loan; |
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and |
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(3) not later than the 30th anniversary of the date the |
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loan is made, if at least 80 percent of the loan value is guaranteed |
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by a federal loan guarantee program available to health care |
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facilities, notwithstanding Subdivisions (1) and (2). |
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SECTION 4. Section 223.034, Health and Safety Code, is |
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repealed. |
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SECTION 5. This Act takes effect September 1, 2015. |