HBA-SEP S.B. 1173 77(R) BILL ANALYSIS Office of House Bill AnalysisS.B. 1173 By: Wentworth Financial Institutions 5/7/2001 Engrossed BACKGROUND AND PURPOSE The Admiral Nimitz Historical Center in Fredericksburg was established in 1964 and has been a historic site within the state park system since 1981. Senate Bill 1173 authorizes the Parks and Wildlife Department, by resolution of the Parks and Wildlife Commission, to request the Texas Public Finance Authority to issue revenue obligations to finance the repair, renovation, improvement, expansion, and equipping of the Nimitz museum. 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 Senate Bill 1173 amends the Parks and Wildlife Code to authorize the Parks and Wildlife Department (department), by resolution of the Parks and Wildlife Commission (commission), to request the Texas Public Finance Authority (authority) to issue revenue obligations to finance the repair, renovation, improvement, expansion, and equipping (improvement) of the Nimitz museum for one or more projects not to exceed an aggregated estimated cost of $9 million. On receipt of a request by the department, the authority is required to promptly issue the revenue obligations. The department is required to deposit the proceeds of issued revenue obligations to the credit of the Texas parks and wildlife conservation and capital account and is authorized to use the proceeds only to finance the improvement of the museum. Notwithstanding any other law, the department is authorized to contract with the Admiral Nimitz Foundation (foundation) to oversee the improvement of the museum. The department is authorized to accept contributions from the foundation and other sources in connection with the improvement of the museum. EFFECTIVE DATE On passage, or if the Act does not receive the necessary vote, the Act takes effect September 1, 2001.