|
|
|
A BILL TO BE ENTITLED
|
|
AN ACT
|
|
relating to a biennial report on state lending and credit support |
|
programs. |
|
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|
SECTION 1. Subchapter D, Chapter 1231, Government Code, is |
|
amended by adding Section 1231.064 to read as follows: |
|
Sec. 1231.064. BIENNIAL REPORT ON STATE LENDING AND CREDIT |
|
SUPPORT PROGRAMS. (a) In this section: |
|
(1) "Credit support program" means a program under |
|
which this state guarantees or provides credit enhancements for the |
|
debt of any public or private entity, including providing support |
|
for interest or principal payments, in a manner that obligates this |
|
state to pay any part of the principal or interest on that debt if |
|
the entity defaults. |
|
(2) "Lending program" means a program through which |
|
state money is loaned, or otherwise provided with the expectation |
|
of repayment, to a public or private entity. |
|
(b) Not later than December 31 of each even-numbered year, |
|
the board shall submit to the legislature and post on the board's |
|
Internet website a report on all lending programs and credit |
|
support programs in this state. The report must include: |
|
(1) the total amount of state money lent through |
|
lending programs; |
|
(2) the total amount of debt supported by credit |
|
support programs; and |
|
(3) for each lending program or credit support |
|
program: |
|
(A) the total amount of state money lent through |
|
or debt supported by the program, as applicable; |
|
(B) a citation to the law authorizing the |
|
program; and |
|
(C) a reasonable estimate of the costs of default |
|
associated with the program, computed in accordance with |
|
private-sector accounting standards for credit or other losses. |
|
(c) A state agency or political subdivision of this state |
|
shall provide to the board in the manner provided by board rule any |
|
information necessary for the board to prepare the report required |
|
by this section. |
|
SECTION 2. This Act takes effect September 1, 2023. |