HBA-TYH, LCA H.B. 2898 76(R)BILL ANALYSIS


Office of House Bill AnalysisH.B. 2898
By: Coleman
Urban Affairs
7/22/1999
Enrolled



BACKGROUND AND PURPOSE 

Prior to the 76th Legislature, neither an independent school district nor a
venue district could have entered into credit agreements  or issue
short-term obligations, including commercial paper.  H.B. 2898 allows an
independent school district with an average daily attendance of 50,000 or
more, a municipality or county operating a sports or community venue, or an
approved venue district, to issue short-term obligations such as commercial
paper. 

RULEMAKING AUTHORITY

It is the opinion of the Office of House Bill Analysis that this bill does
not expressly delegate any additional rulemaking authority to a state
officer, department, agency, or institution. 

SECTION BY SECTION ANALYSIS

SECTION 1.  Amends Sections 1(1) and (3), Article 717q, V.T.C.S., as
follows: 

1(1)  Includes an independent school district with an average daily
attendance of 50,000 or as defined under Section 42.005 (Average Daily
Attendance), Education Code, a municipality or county operating under
Chapter 334 (Sports and Community Venues), Local Government Code, and a
venue district created under Chapter 335 (Sports and Community Venue
Districts), Local Government Code, in the definition of "issuer."   Updates
statutory references. 

1(3)  Includes an improved venue project under Chapter 334 or 335, Local
Government Code, in the definition of "eligible project."  Makes a
nonsubstantive change. 

SECTION 2.Effective date: September 1, 1999.

SECTION 3.  Emergency clause.