HBA-TYH C.S.S.B. 184 76(R)BILL ANALYSIS


Office of House Bill AnalysisC.S.S.B. 184
By: Barrientos
Financial Institutions
4/22/1999
Committee Report (Substituted)



BACKGROUND AND PURPOSE 

The Hinson-Hazelwood College Student Loan program, established in 1965, has
provided loans to more than 261,000 low and moderate income students.
C.S.S.B. 184 authorizes $400 million in general obligation bonds for the
student loan program administered by the Texas Higher Education
Coordinating Board, and authorizes the issuance of bonds. 

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 Section 52.01, Education Code, to require the Texas
Higher Education Coordinating Board (board), or its successors, to
administer the student loan program authorized by this chapter (Student
Loan Program) pursuant to Section 50b-5 (relating to student loans),
Article III, Texas Constitution, in addition to other sections.  Makes a
conforming change. 

SECTION 2.  Amends Section 52.501(4), Education Code, to expand the
definition of "bond" by including a general obligation bond issued by the
board under Section 50b-5, Article III, Texas Constitution. 

SECTION 3.  Amends Section 52.81(2), Education Code, to make conforming
changes. 

SECTION 4.  Amends Section 52.82(a), Education Code, to prohibit the
issuance of general obligation bonds from exceeding $400 million under
Section 50b-5, Article III, Texas Constitution. 

SECTION 5.  Amends Section 52.87, Education Code, to make a conforming
change. 

SECTION 6.  Provides that this Act takes effect on the date on which the
constitutional amendment proposed by the 76th Legislature, Regular Session,
1999, providing for the issuance of $400 million in general obligation
bonds to finance educational loans to students takes effect.  Provides that
this Act has no effect if that amendment is not approved by the voters. 

SECTION 7.  Emergency clause.
  Effective date: according to its terms.

COMPARISON OF ORIGINAL TO SUBSTITUTE

The substitute modifies the original bill by adding SECTIONS 1 and 2, and
redesignating SECTIONS 1 to 5 of the original bill to SECTIONS 3 to 7. 

The substitute also modifies the original bill, as follows:

SECTION 1-2.  For a complete analysis, please see the Section-by-Section
Analysis portion of this document. 

SECTIONS 3-4.  Makes nonsubstantive changes.