86R6887 MCK-D
 
  By: Cortez H.B. No. 2119
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to the application for and loans from the Texas military
  value revolving loan account.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Section 436.054, Government Code, is amended by
  amending Subsection (b) and adding Subsection (c) to read as
  follows:
         (b)  The commission is a governmental body for purposes of
  the open meetings law, Chapter 551. Except as otherwise provided by
  Subsection (c), Chapter 551 applies to a meeting of the commission.
         (c)  The commission may allow for members' participation in a
  meeting by telephone or other means of telecommunication or
  electronic communication to consider an application for a loan from
  the Texas military value revolving loan account. Any voting
  conducted by telephone or other means of telecommunication or
  electronic communication shall be subject to the same quorum
  requirements of meetings where members are present in person.
         SECTION 2.  Subchapter D, Chapter 436, Government Code, is
  amended by adding Section 436.1533 to read as follows:
         Sec. 436.1533.  USE OF LOAN PROCEEDS TO PAY OTHER DEBT
  INCURRED TO FINANCE PROJECT. A defense community awarded a loan of
  financial assistance from the Texas military value revolving loan
  account for an eligible project under this subchapter may use a
  portion of the loan proceeds to pay off other debt, including
  commercial debt, the defense community incurred for purposes of
  financing the project.
         SECTION 3.  Section 436.154(a), Government Code, is amended
  to read as follows:
         (a)  The commission shall adopt rules, in consultation with
  the Texas Public Finance Authority, that contain the criteria for
  evaluating the credit of a loan applicant and the financial
  feasibility of a project. The commission, in consultation with the
  Texas Public Finance Authority, shall also adopt a loan application
  form. The application form may include:
               (1)  the name of the defense community and its
  principal officers;
               (2)  the total cost of the project;
               (3)  the amount of state financial assistance
  requested;
               (4)  the plan for repaying the loan; and
               (5)  any other information the commission requires to
  perform its duties and to protect the public interest.
         SECTION 4.  This Act takes effect September 1, 2019.