88R4637 KJE-F
 
  By: Cain, Frazier, Troxclair, Canales, H.B. No. 1038
      et al.
 
 
 
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.