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AN ACT
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relating to the application for and loans from the Texas military |
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value revolving loan account. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 436.054, Government Code, is amended by |
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amending Subsection (b) and adding Subsections (c), (d), and (e) to |
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read as follows: |
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(b) The commission is a governmental body for purposes of |
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the open meetings law, Chapter 551. Except as otherwise provided by |
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this section, Chapter 551 applies to a meeting of the commission. |
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(c) The commission may allow for members' participation in a |
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meeting by telephone or other means of telecommunication or |
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electronic communication to consider an application for a loan from |
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the Texas military value revolving loan account. Any voting |
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conducted by telephone or other means of telecommunication or |
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electronic communication shall be subject to the same quorum |
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requirements of meetings where members are present in person. |
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(d) A meeting described by Subsection (c) is subject to the |
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notice requirements applicable to other meetings. The notice of |
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the meeting must specify as the location of the meeting the location |
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where meetings of the commission are usually held. |
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(e) Each part of a meeting described by Subsection (c) that |
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is required to be open to the public shall be audible to the public |
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at the location specified in the notice of the meeting as the |
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location of the meeting and the audio shall be recorded. The audio |
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recording shall be made available to the public. |
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SECTION 2. Subchapter D, Chapter 436, Government Code, is |
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amended by adding Section 436.1533 to read as follows: |
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Sec. 436.1533. USE OF LOAN PROCEEDS TO PAY OTHER DEBT |
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INCURRED TO FINANCE PROJECT. A defense community awarded a loan of |
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financial assistance from the Texas military value revolving loan |
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account for an eligible project under this subchapter may use a |
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portion of the loan proceeds to pay off other debt, including |
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commercial debt, the defense community incurred for purposes of |
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financing the project. |
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SECTION 3. Section 436.154(a), Government Code, is amended |
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to read as follows: |
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(a) The commission shall adopt rules, in consultation with |
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the Texas Public Finance Authority, that contain the criteria for |
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evaluating the credit of a loan applicant and the financial |
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feasibility of a project. The commission, in consultation with the |
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Texas Public Finance Authority, shall also adopt a loan application |
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form. The application form may include: |
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(1) the name of the defense community and its |
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principal officers; |
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(2) the total cost of the project; |
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(3) the amount of state financial assistance |
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requested; |
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(4) the plan for repaying the loan; and |
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(5) any other information the commission requires to |
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perform its duties and to protect the public interest. |
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SECTION 4. This Act takes effect September 1, 2019. |
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______________________________ |
______________________________ |
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President of the Senate |
Speaker of the House |
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I certify that H.B. No. 2119 was passed by the House on April |
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24, 2019, by the following vote: Yeas 147, Nays 0, 1 present, not |
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voting; and that the House concurred in Senate amendments to H.B. |
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No. 2119 on May 22, 2019, by the following vote: Yeas 144, Nays 0, |
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1 present, not voting. |
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______________________________ |
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Chief Clerk of the House |
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I certify that H.B. No. 2119 was passed by the Senate, with |
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amendments, on May 14, 2019, by the following vote: Yeas 31, Nays |
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0. |
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______________________________ |
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Secretary of the Senate |
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APPROVED: __________________ |
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Date |
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__________________ |
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Governor |