Honorable Jimmie Don Aycock, Chair, House Committee on Public Education
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
HB2833 by Farney (Relating to the issuance of interest-bearing time warrants by school districts.), As Introduced
No significant fiscal implication to the State is anticipated.
This bill amends the Education Code related to the issuance of interest-bearing time warrants by school districts. The bill increases the maximum maturity period for an interest-bearing time warrant issued by a school district from 15 to 20 years and increases the limit on the total amount of a district's total outstanding time warrants from $1 million to $2 million.
This bill would take effect September 1, 2015.
Based on the analysis of the Texas Education Agency, duties and responsibilities associated with implementing the provisions of the bill could be accomplished by utilizing existing resources.
Local Government Impact
This bill would give school districts greater flexibility with regard to borrowing.