HBA-RBT C.S.S.B. 1171 76(R)BILL ANALYSIS


Office of House Bill AnalysisC.S.S.B. 1171
By: Wentworth
Natural Resources
5/13/1999
Committee Report (Substituted)



BACKGROUND AND PURPOSE 

Currently, Texas law regulates certain powers and authority of the Upper
Guadalupe River Authority (authority) to borrow money for corporate
purposes.  C.S.S.B. 1171 increases from $1 million to $55 million the
maximum amount of a note issued by the authority and authorizes the notes
to mature over a term of 40 years.  

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 Subsections (c) and (d), Section 10(c), Article 8280-124,
V.T.C.S., to prohibit a note issued under this section from exceeding $55
million in the aggregate, rather than $1 million. Authorizes notes to
mature over a term of not more than 40 years, rather than 20 years. 

SECTION 2.  Sets forth legislative intent.

SECTION 3. Provides that the proper and legal notice of intent to introduce
this Act has been met. Provides that the Texas Natural Resource
Conservation Commission has filed its recommendations with certain persons
within the required time. Provides that all requirements of the
constitution and laws of this state and the rules and procedures of the
legislature with respect to the notice, introduction, and passage of this
Act are fulfilled and accomplished.  
Effective date: 90 days after adjournment. 

COMPARISON OF ORIGINAL TO SUBSTITUTE

The substitute differs from the original in SECTION 1 by amending, rather
than deleting, Subsection (c) of Section 10(c), Article 8280-124, V.T.C.S.,
to prohibit a note issued under this section from exceeding $55 million in
the aggregate, rather than $1 million.  

The substitute differs from the original by adding a new SECTION 2, which
sets forth legislative intent. 

The substitute differs from the original by redesignating SECTION 2 of the
original as SECTION 3 of the substitute.