By: King of Hemphill, Fallon H.B. No. 878

(Senate Sponsor - Perry)

(In the Senate - Received from the House April 18, 2017; May 1, 2017, read first time and referred to Committee on Education; May 16, 2017, reported adversely, with favorable Committee Substitute by the following vote: Yeas 11, Nays 0; May 16, 2017, sent to printer.) Click here to see the committee vote

COMMITTEE SUBSTITUTE FOR H.B. No. 878 By: Hughes

A BILL TO BE ENTITLED

AN ACT

relating to the extension and modification of a public school district depository contract.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:

SECTION 1. Section 45.205(b), Education Code, is amended to read as follows:

(b) A school district and the district's depository bank may agree to extend a depository contract for three [two] additional two-year terms. The contract may be modified for each two-year extension if both parties mutually agree to the terms. An extension under this subsection is not subject to the requirements of Section 45.206.

SECTION 2. This Act takes effect September 1, 2017.

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