Bill Text: TX SB6 | 2013 | 83rd Legislature 2nd Special Session | Introduced
Bill Title: Relating to authorizing the issuance of revenue bonds to fund capital projects at public institutions of higher education.
Spectrum: Partisan Bill (Republican 2-0)
Status: (Introduced - Dead) 2013-07-12 - Co-author authorized [SB6 Detail]
Download: Texas-2013-SB6-Introduced.html
| By: Seliger | S.B. No. 6 | |
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| relating to authorizing the issuance of revenue bonds to fund | ||
| capital projects at public institutions of higher education. | ||
| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
| SECTION 1. Subchapter B, Chapter 55, Education Code, is | ||
| amended by adding Sections 55.1781, 55.1782, 55.1783, 55.1784, | ||
| 55.1785, 55.1786, 55.1787, 55.1788, 55.1789, 55.17891, and | ||
| 55.17892 to read as follows: | ||
| Sec. 55.1781. THE TEXAS A&M UNIVERSITY SYSTEM; ADDITIONAL | ||
| BONDS. (a) In addition to the other authority granted by this | ||
| subchapter, the board of regents of The Texas A&M University System | ||
| may acquire, purchase, construct, improve, renovate, enlarge, or | ||
| equip property and facilities, including roads and related | ||
| infrastructure, for projects to be financed through the issuance of | ||
| bonds in accordance with this subchapter and in accordance with a | ||
| systemwide revenue financing program adopted by the board for the | ||
| following institutions, not to exceed the following aggregate | ||
| principal amounts for the projects specified, as follows: | ||
| (1) Texas A&M University--Commerce, $42,500,000 for a | ||
| library and technology center; | ||
| (2) Texas A&M University--Corpus Christi, $63,750,000 | ||
| for a life sciences research building; | ||
| (3) Texas A&M University--Kingsville, $42,000,000 for | ||
| music building expansion and renovation of Jones Auditorium; | ||
| (4) Texas A&M University--Texarkana, $39,100,000 for | ||
| an academic and laboratory learning center; | ||
| (5) West Texas A&M University, $15,000,000 for the | ||
| Amarillo Center; | ||
| (6) The Texas A&M University System Health Science | ||
| Center: | ||
| (A) $7,200,000 for facilities in Round Rock, | ||
| Texas; | ||
| (B) $36,000,000 for a research building in | ||
| Temple, Texas; and | ||
| (C) $72,000,000 for an education center and | ||
| research building in Dallas, Texas; | ||
| (7) Texas A&M International University, $52,000,000 | ||
| for library renovation, additional instructional spaces, and a | ||
| support services building; | ||
| (8) Prairie View A&M University, $12,800,000 for | ||
| critical deferred maintenance; | ||
| (9) Tarleton State University: | ||
| (A) $52,000,000 for the Gates Agriculture and | ||
| Business Building; and | ||
| (B) $12,000,000 for the Midlothian Higher | ||
| Education Center; | ||
| (10) Texas A&M University, $88,000,000 for a | ||
| biocontainment research facility and music building; | ||
| (11) Texas A&M University at Galveston, $44,000,000 | ||
| for an academic building; | ||
| (12) Texas A&M University--Central Texas, $42,500,000 | ||
| for a science, health science, and wellness building; and | ||
| (13) Texas A&M University--San Antonio, $73,525,000 | ||
| for a science and technology building and central and physical | ||
| plant. | ||
| (b) The board may pledge irrevocably to the payment of bonds | ||
| authorized by this section all or any part of the revenue funds of | ||
| an institution, branch, or entity of The Texas A&M University | ||
| System, including student tuition charges. The amount of a pledge | ||
| made under this subsection may not be reduced or abrogated while the | ||
| bonds for which the pledge is made, or bonds issued to refund those | ||
| bonds, are outstanding. | ||
| (c) If sufficient funds are not available to the board to | ||
| meet its obligations under this section, the board may transfer | ||
| funds among institutions, branches, and entities of The Texas A&M | ||
| University System to ensure the most equitable and efficient | ||
| allocation of available resources for each institution, branch, or | ||
| entity to carry out its duties and purposes. | ||
| Sec. 55.1782. THE UNIVERSITY OF TEXAS SYSTEM; ADDITIONAL | ||
| BONDS. (a) In addition to the other authority granted by this | ||
| subchapter, the board of regents of The University of Texas System | ||
| may acquire, purchase, construct, improve, renovate, enlarge, or | ||
| equip property and facilities, including roads and related | ||
| infrastructure, for projects to be financed through the issuance of | ||
| bonds in accordance with this subchapter and in accordance with a | ||
| systemwide revenue financing program adopted by the board for the | ||
| following institutions, not to exceed the following aggregate | ||
| principal amounts for the projects specified, as follows: | ||
| (1) The University of Texas at Austin, $90,000,000 for | ||
| an engineering education and research center; | ||
| (2) The University of Texas at Brownsville or its | ||
| successor university, $100,000,000 for a new campus in Brownsville; | ||
| (3) The University of Texas--Pan American or its | ||
| successor university, $82,400,000 for Science Building II; | ||
| (4) The University of Texas Southwestern Medical | ||
| Center at Dallas, $60,000,000 for north campus Phase VI vivarium | ||
| and research facilities; | ||
| (5) The University of Texas Health Science Center at | ||
| San Antonio, $11,200,000 for a South Texas diabetes institute and | ||
| for an enhanced performance laboratory of the Barshop Institute for | ||
| Longevity and Aging Studies; | ||
| (6) The University of Texas M. D. Anderson Cancer | ||
| Center, $42,500,000 for a personalized cancer care building; | ||
| (7) The University of Texas Medical Branch at | ||
| Galveston, $32,000,000 for a health education center; | ||
| (8) The University of Texas at Arlington, $64,300,000 | ||
| for renovation of and addition to a life science building; | ||
| (9) The University of Texas at Dallas, $76,000,000 for | ||
| an engineering building; | ||
| (10) The University of Texas at El Paso, $88,000,000 | ||
| for an interdisciplinary research facility; | ||
| (11) The University of Texas at San Antonio, | ||
| $74,200,000 for an experimental science instructional building; | ||
| (12) The University of Texas at Tyler, $41,225,000 for | ||
| a STEM and business complex and renovation of the business | ||
| building; | ||
| (13) The University of Texas Health Science Center at | ||
| Houston, $100,000,000 for the renovation and modernization of | ||
| educational and research facilities; | ||
| (14) The University of Texas Health Science Center at | ||
| Tyler, $5,005,000 for the Riter Center Primary Care Training Center | ||
| renovation; and | ||
| (15) The University of Texas of the Permian Basin, | ||
| $51,000,000 for an engineering building. | ||
| (b) The board may pledge irrevocably to the payment of bonds | ||
| authorized by this section all or any part of the revenue funds of | ||
| an institution, branch, or entity of The University of Texas | ||
| System, including student tuition charges. The amount of a pledge | ||
| made under this subsection may not be reduced or abrogated while the | ||
| bonds for which the pledge is made, or bonds issued to refund those | ||
| bonds, are outstanding. | ||
| (c) If sufficient funds are not available to the board to | ||
| meet its obligations under this section, the board may transfer | ||
| funds among institutions, branches, and entities of The University | ||
| of Texas System to ensure the most equitable and efficient | ||
| allocation of available resources for each institution, branch, or | ||
| entity to carry out its duties and purposes. | ||
| (d) The bonds for the project specified by Subsection (a)(2) | ||
| may be issued only if the 83rd Legislature enacts legislation that | ||
| becomes law creating or authorizing creation of a new component | ||
| university of The University of Texas System that incorporates the | ||
| facilities and programs of The University of Texas at Brownsville. | ||
| Sec. 55.1783. UNIVERSITY OF HOUSTON SYSTEM; ADDITIONAL | ||
| BONDS. (a) In addition to the other authority granted by this | ||
| subchapter, the board of regents of the University of Houston | ||
| System may acquire, purchase, construct, improve, renovate, | ||
| enlarge, or equip property and facilities, including roads and | ||
| related infrastructure, for projects to be financed through the | ||
| issuance of bonds in accordance with this subchapter and in | ||
| accordance with a systemwide revenue financing program adopted by | ||
| the board for the following institutions, not to exceed the | ||
| following aggregate principal amounts for the projects specified, | ||
| as follows: | ||
| (1) the University of Houston, $70,000,000 for a | ||
| pharmacy and biomedical sciences building; | ||
| (2) the University of Houston--Clear Lake, | ||
| $67,200,000 for a science and academic support building; | ||
| (3) the University of Houston--Downtown, $37,200,000 | ||
| for a science and technology building; and | ||
| (4) the University of Houston--Victoria, $78,356,800 | ||
| for campus expansion. | ||
| (b) The board may pledge irrevocably to the payment of bonds | ||
| authorized by this section all or any part of the revenue funds of | ||
| an institution, branch, or entity of the University of Houston | ||
| System, including student tuition charges. The amount of a pledge | ||
| made under this subsection may not be reduced or abrogated while the | ||
| bonds for which the pledge is made, or bonds issued to refund those | ||
| bonds, are outstanding. | ||
| (c) If sufficient funds are not available to the board to | ||
| meet its obligations under this section, the board may transfer | ||
| funds among institutions, branches, and entities of the University | ||
| of Houston System to ensure the most equitable and efficient | ||
| allocation of available resources for each institution, branch, or | ||
| entity to carry out its duties and purposes. | ||
| Sec. 55.1784. TEXAS STATE UNIVERSITY SYSTEM; ADDITIONAL | ||
| BONDS. (a) In addition to the other authority granted by this | ||
| subchapter, the board of regents of the Texas State University | ||
| System may acquire, purchase, construct, improve, renovate, | ||
| enlarge, or equip property and facilities, including roads and | ||
| related infrastructure, for projects to be financed through the | ||
| issuance of bonds in accordance with this subchapter and in | ||
| accordance with a systemwide revenue financing program adopted by | ||
| the board for the following institutions, not to exceed the | ||
| following aggregate principal amounts for the projects specified, | ||
| as follows: | ||
| (1) Lamar University, $33,000,000 for a science | ||
| building; | ||
| (2) Lamar State College--Orange, $14,222,400 for a | ||
| multipurpose education building; | ||
| (3) Lamar State College--Port Arthur, $2,316,000 for | ||
| an addition to the allied health building; | ||
| (4) Lamar Institute of Technology, $12,000,000 for | ||
| renovation and replacement of the technical arts buildings; | ||
| (5) Texas State University--San Marcos: | ||
| (A) $47,600,000 for a medical education and | ||
| research building in Round Rock, Texas; and | ||
| (B) $73,265,729 for an engineering and science | ||
| building; | ||
| (6) Sam Houston State University, $31,720,000 for a | ||
| biology, nursing, and allied health building; and | ||
| (7) Sul Ross State University, $3,400,000 for | ||
| renovation and modernization of educational and related facilities | ||
| and infrastructure. | ||
| (b) The board may pledge irrevocably to the payment of bonds | ||
| authorized by this section all or any part of the revenue funds of | ||
| an institution, branch, or entity of the Texas State University | ||
| System, including student tuition charges. The amount of a pledge | ||
| made under this subsection may not be reduced or abrogated while the | ||
| bonds for which the pledge is made, or bonds issued to refund those | ||
| bonds, are outstanding. | ||
| (c) If sufficient funds are not available to the board to | ||
| meet its obligations under this section, the board may transfer | ||
| funds among institutions, branches, and entities of the Texas State | ||
| University System to ensure the most equitable and efficient | ||
| allocation of available resources for each institution, branch, or | ||
| entity to carry out its duties and purposes. | ||
| Sec. 55.1785. UNIVERSITY OF NORTH TEXAS SYSTEM; ADDITIONAL | ||
| BONDS. (a) In addition to the other authority granted by this | ||
| subchapter, the board of regents of the University of North Texas | ||
| System may acquire, purchase, construct, improve, renovate, | ||
| enlarge, or equip property and facilities, including roads and | ||
| related infrastructure, for projects to be financed through the | ||
| issuance of bonds in accordance with this subchapter and in | ||
| accordance with a systemwide revenue financing program adopted by | ||
| the board for the following institutions, not to exceed the | ||
| following aggregate principal amounts for the projects specified, | ||
| as follows: | ||
| (1) the University of North Texas System, $56,000,000 | ||
| for college of law building renovations; | ||
| (2) the University of North Texas, $78,200,000 for a | ||
| college of visual arts and design facility; | ||
| (3) the University of North Texas at Dallas, | ||
| $63,000,000 for a library and student success center; and | ||
| (4) the University of North Texas Health Science | ||
| Center at Fort Worth, $66,600,000 for an interdisciplinary research | ||
| building. | ||
| (b) The board may pledge irrevocably to the payment of bonds | ||
| authorized by this section all or any part of the revenue funds of | ||
| an institution, branch, or entity of the University of North Texas | ||
| System, including student tuition charges. The amount of a pledge | ||
| made under this subsection may not be reduced or abrogated while the | ||
| bonds for which the pledge is made, or bonds issued to refund those | ||
| bonds, are outstanding. | ||
| (c) If sufficient funds are not available to the board to | ||
| meet its obligations under this section, the board may transfer | ||
| funds among institutions, branches, and entities of the University | ||
| of North Texas System to ensure the most equitable and efficient | ||
| allocation of available resources for each institution, branch, or | ||
| entity to carry out its duties and purposes. | ||
| Sec. 55.1786. TEXAS WOMAN'S UNIVERSITY. (a) In addition | ||
| to the other authority granted by this subchapter, the board of | ||
| regents of Texas Woman's University may acquire, purchase, | ||
| construct, improve, renovate, enlarge, or equip property and | ||
| facilities, including roads and related infrastructure, for a | ||
| science and technology learning center, to be financed through the | ||
| issuance of bonds in accordance with this subchapter, not to exceed | ||
| the aggregate principal amount of $37,996,000. | ||
| (b) The board may pledge irrevocably to the payment of bonds | ||
| authorized by this section all or any part of the revenue funds of | ||
| Texas Woman's University, including student tuition charges. The | ||
| amount of a pledge made under this subsection may not be reduced or | ||
| abrogated while the bonds for which the pledge is made, or bonds | ||
| issued to refund those bonds, are outstanding. | ||
| Sec. 55.1787. MIDWESTERN STATE UNIVERSITY; ADDITIONAL | ||
| BONDS. (a) In addition to the other authority granted by this | ||
| subchapter, the board of regents of Midwestern State University may | ||
| acquire, purchase, construct, improve, renovate, enlarge, or equip | ||
| property and facilities, including roads and related | ||
| infrastructure, for the Moffett Library building and information | ||
| technology facilities at Midwestern State University, to be | ||
| financed through the issuance of bonds in accordance with this | ||
| subchapter, not to exceed the aggregate principal amount of | ||
| $23,992,000. | ||
| (b) The board may pledge irrevocably to the payment of bonds | ||
| authorized by this section all or any part of the revenue funds of | ||
| Midwestern State University, including student tuition charges. | ||
| The amount of a pledge made under this subsection may not be reduced | ||
| or abrogated while the bonds for which the pledge is made, or bonds | ||
| issued to refund those bonds, are outstanding. | ||
| Sec. 55.1788. STEPHEN F. AUSTIN STATE UNIVERSITY. (a) In | ||
| addition to the other authority granted by this subchapter, the | ||
| board of regents of Stephen F. Austin State University may acquire, | ||
| purchase, construct, improve, renovate, enlarge, or equip property | ||
| and facilities, including roads and related infrastructure, for a | ||
| science, technology, engineering, and mathematics research | ||
| building at Stephen F. Austin State University, to be financed | ||
| through the issuance of bonds in accordance with this subchapter, | ||
| not to exceed the aggregate principal amount of $45,000,000. | ||
| (b) The board may pledge irrevocably to the payment of bonds | ||
| authorized by this section all or any part of the revenue funds of | ||
| Stephen F. Austin State University, including student tuition | ||
| charges. The amount of a pledge made under this subsection may not | ||
| be reduced or abrogated while the bonds for which the pledge is | ||
| made, or bonds issued to refund those bonds, are outstanding. | ||
| Sec. 55.1789. TEXAS TECH UNIVERSITY SYSTEM; ADDITIONAL | ||
| BONDS. (a) In addition to the other authority granted by this | ||
| subchapter, the board of regents of the Texas Tech University | ||
| System may acquire, purchase, construct, improve, renovate, | ||
| enlarge, or equip property and facilities, including roads and | ||
| related infrastructure, for projects to be financed through the | ||
| issuance of bonds in accordance with this subchapter and in | ||
| accordance with a systemwide revenue financing program adopted by | ||
| the board for the following institutions, not to exceed the | ||
| following aggregate principal amounts for the projects specified, | ||
| as follows: | ||
| (1) Texas Tech University Health Sciences Center: | ||
| (A) $38,250,000 for Lubbock education, research, | ||
| and technology facilities; | ||
| (B) $75,735,000 for the El Paso Medical Science | ||
| Building II; and | ||
| (C) $17,735,000 for the Permian Basin academic | ||
| facility; | ||
| (2) Texas Tech University, $74,587,500 for a research | ||
| building; and | ||
| (3) Angelo State University, $14,896,000 for a health | ||
| and human services building. | ||
| (b) The board may pledge irrevocably to the payment of bonds | ||
| authorized by this section all or any part of the revenue funds of | ||
| an institution, branch, or entity of the Texas Tech University | ||
| System, including student tuition charges. The amount of a pledge | ||
| made under this subsection may not be reduced or abrogated while the | ||
| bonds for which the pledge is made, or bonds issued to refund those | ||
| bonds, are outstanding. | ||
| (c) If sufficient funds are not available to the board to | ||
| meet its obligations under this section, the board may transfer | ||
| funds among institutions, branches, and entities of the Texas Tech | ||
| University System to ensure the most equitable and efficient | ||
| allocation of available resources for each institution, branch, or | ||
| entity to carry out its duties and purposes. | ||
| (d) The bonds for the project specified by Subsection | ||
| (a)(1)(B) may be issued only if the 83rd Legislature enacts | ||
| legislation that becomes law authorizing creation of a health | ||
| sciences center in El Paso as a component of the Texas Tech | ||
| University System. | ||
| Sec. 55.17891. TEXAS SOUTHERN UNIVERSITY; ADDITIONAL | ||
| BONDS. (a) In addition to the other authority granted by this | ||
| subchapter, the board of regents of Texas Southern University may | ||
| acquire, purchase, construct, improve, renovate, enlarge, or equip | ||
| property and facilities, including roads and related | ||
| infrastructure, for the Robert J. Terry Library at Texas Southern | ||
| University, to be financed through the issuance of bonds in | ||
| accordance with this subchapter, not to exceed the aggregate | ||
| principal amount of $56,115,012. | ||
| (b) The board may pledge irrevocably to the payment of bonds | ||
| authorized by this section all or any part of the revenue funds of | ||
| Texas Southern University, including student tuition charges. The | ||
| amount of a pledge made under this subsection may not be reduced or | ||
| abrogated while the bonds for which the pledge is made, or bonds | ||
| issued to refund those bonds, are outstanding. | ||
| Sec. 55.17892. TEXAS STATE TECHNICAL COLLEGE SYSTEM. | ||
| (a) In addition to the other authority granted by this subchapter, | ||
| the board of regents of the Texas State Technical College System may | ||
| acquire, purchase, construct, improve, renovate, enlarge, or equip | ||
| property and facilities, including roads and related | ||
| infrastructure, for projects to be financed through the issuance of | ||
| bonds in accordance with this subchapter for the following | ||
| institutions, not to exceed the following aggregate principal | ||
| amounts for the projects specified, as follows: | ||
| (1) Texas State Technical College System, $35,000,000 | ||
| for the Ellis County Extension Center; | ||
| (2) Texas State Technical College--Harlingen, | ||
| $2,400,000 for Phase II of the Engineering Technology Center | ||
| renovation; | ||
| (3) Texas State Technical College--Marshall, | ||
| $1,200,000 for renovation of aviation technology facilities; and | ||
| (4) Texas State Technical College--Waco, $5,000,000 | ||
| for water system infrastructure replacement. | ||
| (b) The board may pledge irrevocably to the payment of those | ||
| bonds all or any part of the revenue funds of an institution, | ||
| branch, or entity of the Texas State Technical College System, | ||
| including student tuition charges. The amount of a pledge made | ||
| under this subsection may not be reduced or abrogated while the | ||
| bonds for which the pledge is made, or bonds issued to refund those | ||
| bonds, are outstanding. | ||
| (c) If sufficient funds are not available to the board to | ||
| meet its obligations under this section, the board may transfer | ||
| funds among institutions, branches, and entities of the Texas State | ||
| Technical College System to ensure the most equitable and efficient | ||
| allocation of available resources for each institution, branch, or | ||
| entity to carry out its duties and purposes. | ||
| (d) The bonds for the project specified by Subsection (a)(1) | ||
| may be issued only if the 83rd Legislature enacts legislation that | ||
| becomes law authorizing an extension center of the Texas State | ||
| Technical College System in Ellis County. | ||
| SECTION 2. Subsection (e), Section 61.0572, Education Code, | ||
| is amended to read as follows: | ||
| (e) Approval of the board is not required to acquire real | ||
| property that is financed by bonds issued under Section 55.17(e)(3) | ||
| or (4), 55.1713-55.1718, 55.1721-55.1728, 55.1735(a)(1), 55.174, | ||
| 55.1742, 55.1743, 55.1744, 55.1751-55.17592, 55.1768, 55.1771, | ||
| [ |
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| review all real property to be financed by bonds issued under those | ||
| sections to determine whether the property meets the standards | ||
| adopted by the board for cost, efficiency, and space use. If the | ||
| property does not meet those standards, the board shall notify the | ||
| governor, the lieutenant governor, the speaker of the house of | ||
| representatives, and the Legislative Budget Board. | ||
| SECTION 3. Subsection (b), Section 61.058, Education Code, | ||
| is amended to read as follows: | ||
| (b) This section does not apply to construction, repair, or | ||
| rehabilitation financed by bonds issued under Section 55.17(e)(3) | ||
| or (4), 55.1713-55.1718, 55.1721-55.1728, 55.174, 55.1742, | ||
| 55.1743, 55.1744, 55.1751-55.17592, 55.1768, 55.1771, [ |
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| 55.17721, or 55.1781-55.17892, except that the board shall review | ||
| all construction, repair, or rehabilitation to be financed by bonds | ||
| issued under those sections to determine whether the construction, | ||
| rehabilitation, or repair meets the standards adopted by board rule | ||
| for cost, efficiency, and space use. If the construction, | ||
| rehabilitation, or repair does not meet those standards, the board | ||
| shall notify the governor, the lieutenant governor, the speaker of | ||
| the house of representatives, and the Legislative Budget Board. | ||
| SECTION 4. This Act does not affect any authority or | ||
| restriction regarding the activities that a public institution of | ||
| higher education may conduct in connection with a facility financed | ||
| by bonds authorized by this Act. | ||
| SECTION 5. TUITION REVENUE BOND DEBT SERVICE. | ||
| (a) $175,000,000, is appropriated out of the general revenue fund | ||
| to the Higher Education Coordinating Board for the fiscal year | ||
| ending August 31, 2015 for distribution to university systems for | ||
| debt service on tuition revenue bonds for their component | ||
| institutions. | ||
| (b) The Higher Education Coordinating Board shall present a | ||
| plan for allocation of the appropriations made in subsection (a) to | ||
| the Legislative Budget Board. | ||
| (c) Appropriations made in subsection (a) may not be | ||
| expended without the prior written approval of the Legislative | ||
| Budget Board. | ||
| (d) The Higher Education Coordinating Board may not expend | ||
| appropriations made in subsection (a) for administrative expenses. | ||
| SECTION 6. This Act takes effect immediately if it receives | ||
| a vote of two-thirds of all the members elected to each house, as | ||
| provided by Section 39, Article III, Texas Constitution. If this | ||
| Act does not receive the vote necessary for immediate effect, this | ||
| Act takes effect September 1, 2013. | ||
