HBA-DMH H.B. 2628 77(R)    BILL ANALYSIS


Office of House Bill AnalysisH.B. 2628
By: Wolens
County Affairs
4/1/2001
Introduced



BACKGROUND AND PURPOSE 

Unlike some nonprofit organizations, the Greater Dallas Jewish Community
Capital Campaign (Capital Campaign) does not engage in just one type of
activity.  The Capital Campaign serves as an umbrella fund raising
organization for a number of community organizations with different
missions.  Under current law, the Capital Campaign is required to obtain
separate sources of financing for each type of facility it assists. House
Bill 2628 modifies the powers, authority, rights, and  tax exemptions of a
cultural education facilities finance corporation. 

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. 

ANALYSIS

House Bill 2628 amends the Cultural Education Facilities Finance
Corporation Act to modify the manner in which a cultural education
facilities finance corporation is required to be created and organized with
respect to powers, authority, and rights. 

The bill provides that property owned by the corporation, property owned by
a nonprofit corporation or limited liability company whose sole member is
the corporation, the income from the property, all bonds issued by the
corporation, the income from the bonds, and the transfer of the bonds are
exempt, as public property used for public purposes, from all taxes imposed
by this state or any political subdivision of this state. Regardless of any
provision under the Health Facilities Development Act, the bill authorizes
the authority of the corporation to be exercised outside the limits of the
city or county that created the corporation without the consent of that
city or county unless the articles of incorporation or bylaws of the
corporation provide differently.  

EFFECTIVE DATE

On passage, or if the Act does not receive the necessary vote, the Act
takes effect September 1, 2001.