Amend HB 1131 (house committee report) as follows:
(1) On page 2, between lines 17 and 18, insert the following appropriately numbered SECTION and renumber subsequent SECTIONS of the bill accordingly:
SECTION ____. Section 45.057(b), Education Code, is amended to read as follows:
(b) The guarantee is not effective unless the attorney general approves the bonds under Section 45.005 or 53.40 of this code or Section 1232.1031, Government Code, as applicable.
(2) On page 3, line 26, following the underlined semicolon, insert "or".
(3) On page 3, line 27, between "valorem" and "tax", insert "maintenance".
(4) On page 4, strike lines 1-7, and substitute the following:
authorized by law.
(c) A school district that secures payment of an obligation or agreement issued or executed under Subsection (a) through imposing an ad valorem maintenance tax must include the obligation or agreement in the district's total maintenance tax debt service when submitting public securities for review to the attorney general under Chapter 1202, Government Code.
(5) On page 4, line 21, between "with" and "maintenance," insert "improvement of existing instructional facilities, limited to the".
(6) On page 4, between lines 26 and 27, insert the following appropriately lettered subsection:
(____) Vehicles, equipment, and appliances are considered furnishings of instructional facilities for purposes of Section 5(d), Article VII, Texas Constitution.
(7) On page 5, line 11, between "section" and "with", insert "only".
(8) On page 6, between lines 24 and 25, insert the following appropriately lettered subsections:
(____) An obligation issued under this section is not a debt of the state or any state agency, political corporation, or political subdivision of the state and is not a pledge of the faith and credit of any of those entities. The obligation may only be payable from all or part of the amounts on deposit in the school district equipment and improvement fund established under Subsection (e).
(____) An obligation issued under this section must contain on the obligation's face a statement to the effect that:
(1) neither the state nor a state agency, political corporation, or political subdivision of the state is obligated to pay the principal of or interest on the obligation except as provided by this section; and
(2) neither the faith and credit nor the taxing power of the state or any state agency, political corporation, or political subdivision of the state is pledged to the payment of the principal of or interest on the obligation.
(____) The authority may not issue an obligation under this section until the Bond Review Board has approved the issuance under Chapter 1231, Government Code.
(____) In submitting an obligation for review under Chapter 1202 or 1371, as applicable, the authority shall demonstrate to the attorney general the ability of the eligible school district to repay the loan or other financing agreement executed with the authority.
(9) Reletter subsections of added Section 1232.1031, Government Code, and cross-references to those subsections as necessary.