Bill Text: TX HB885 | 2013-2014 | 83rd Legislature | Introduced

Texas House Bill 885 (Prior Session Legislation)

NOTE: There are more recent revisions of this legislation. Read Latest Draft

Bill Title: Relating to the guarantee of refinanced open-enrollment charter school bonds by the permanent school fund.

Spectrum: Moderate Partisan Bill (Republican 5-1)

Status: (Passed) 2013-06-14 - Effective on 9/1/13 [HB885 Detail]

Download: Texas-2013-HB885-Introduced.html

	83R4857 EAH-F

	By: Murphy	H.B. No. 885



	A BILL TO BE ENTITLED
	AN ACT
	relating to the guarantee of refinanced open-enrollment charter
	school bonds by the permanent school fund.
	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
	SECTION 1. Section 12.135(b), Education Code, is amended to
	read as follows:
	(b) A charter district may apply for bonds issued under
	Chapter 53 for the open-enrollment charter school, including
	refunding and refinanced bonds, to be guaranteed by the permanent
	school fund as provided by Chapter 45.
	SECTION 2. Section 45.052(a), Education Code, is amended to
	read as follows:
	(a) On approval by the commissioner, bonds issued under
	Subchapter A by a school district or Chapter 53 for a charter
	district, including refunding and refinanced bonds, are guaranteed
	by the corpus and income of the permanent school fund.
	SECTION 3. This Act applies only to a bond issued, refunded,
	or refinanced on or after the effective date of this Act by an
	open-enrollment charter school designated as a charter district
	under Section 12.135, Education Code. A bond issued, refunded, or
	refinanced before the effective date of this Act by an
	open-enrollment charter school designated as a charter district is
	governed by the law in effect immediately before that date, and that
	law is continued in effect for that purpose.
	SECTION 4. This Act takes effect September 1, 2013.