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A BILL TO BE ENTITLED
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AN ACT
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relating to certain bonds issued by public institutions of higher |
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education in this state to acquire, purchase, construct, improve, |
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renovate, enlarge, or equip the property, buildings, structures, or |
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facilities of or the related infrastructure for those institutions. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter B, Chapter 55, Education Code, is |
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amended by adding Section 55.111 to read as follows: |
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Sec. 55.111. DESIGNATION OF BONDS. For purposes of the |
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appropriation of general revenue to institutions of higher |
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education under the General Appropriations Act or other Act of the |
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legislature making an appropriation, bonds issued by a governing |
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board for purposes described by Section 55.13(a) and secured with |
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revenue funds in accordance with this subchapter may be designated |
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as "Capital Improvement Bonds." |
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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, 2021. |