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A BILL TO BE ENTITLED
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AN ACT
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relating to the guarantee of charter district bonds by the |
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permanent school fund. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Sections 45.0532(a), (a-1), and (b), Education |
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Code, are amended to read as follows: |
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(a) In addition to the general limitation under Section |
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45.053, the commissioner may not approve charter district bonds for |
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guarantee under this subchapter in a total amount that exceeds the |
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charter capacity [percentage of the total available capacity] of |
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the guaranteed bond program [that is equal to the percentage of the
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number of students enrolled in open-enrollment charter schools in
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this state compared to the total number of students enrolled in all
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public schools in this state, as determined by the commissioner]. |
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(a-1) The commissioner may not approve charter district |
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refunding or refinanced bonds for guarantee under this subchapter |
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in a total amount that exceeds one-half of the charter capacity |
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[total amount available for the guarantee of charter district bonds
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under Subsection (a)]. |
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(b) For purposes of this section [Subsection (a)], the |
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charter [total available] capacity of the guaranteed bond program |
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is the percentage of the total capacity of the guaranteed bond |
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program [limit] established by the board under Sections 45.053(d) |
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and 45.0531 that is equal to the percentage of the number of |
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students enrolled in open-enrollment charter schools in this state |
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compared to the total number of students enrolled in all public |
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schools in this state, as determined by the commissioner [minus the
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total amount of outstanding guaranteed bonds]. Each time the board |
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increases the limit under Section 45.053(d), the total amount of |
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charter district bonds that may be guaranteed increases accordingly |
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under Subsection (a). |
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SECTION 2. 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, 2017. |