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A BILL TO BE ENTITLED
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AN ACT
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relating to the eligibility of certain school districts with |
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outstanding debt for the guarantee of a bond by the permanent school |
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fund. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter C, Chapter 45, Education Code, is |
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amended by adding Section 45.0542 to read as follows: |
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Sec. 45.0542. ELIGIBILITY OF CERTAIN SCHOOL DISTRICTS WITH |
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OUTSTANDING DEBT. The commissioner may approve the guarantee of a |
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school district's eligible bonds under this subchapter only if the |
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ratio of the total amount of the district's outstanding bonds to the |
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number of students enrolled in the district is not more than $10,000 |
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per student. |
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SECTION 2. The change in law made by this Act applies only |
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to the guarantee of a school district's bond under Subchapter C, |
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Chapter 45, Education Code, as amended by this Act, that is issued |
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on or after the effective date of this Act. The guarantee of a |
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school district's bond under that subchapter that is issued before |
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the effective date of this Act is governed by the law in effect on |
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the date the bond was issued, and the former law is continued in |
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effect for that purpose. |
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SECTION 3. This Act takes effect September 1, 2025. |