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.