Bill Text: TX SB604 | 2025-2026 | 89th Legislature | Introduced
Bill Title: Relating to the posting of information regarding certain bonds guaranteed by the permanent school fund.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced) 2024-12-13 - Filed [SB604 Detail]
Download: Texas-2025-SB604-Introduced.html
| 89R2266 KJE-D | ||
| By: West | S.B. No. 604 | |
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| relating to the posting of information regarding certain bonds | ||
| guaranteed by the permanent school fund. | ||
| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
| SECTION 1. Subchapter C, Chapter 45, Education Code, is | ||
| amended by adding Section 45.0625 to read as follows: | ||
| Sec. 45.0625. POSTING OF DOWNGRADED RATINGS. (a) Not later | ||
| than the first day of each quarter of the state fiscal year, the | ||
| Texas Permanent School Fund Corporation shall post on the | ||
| corporation's Internet website a list of each existing bond | ||
| guaranteed under this subchapter that has been downgraded to a | ||
| speculative bond rating. | ||
| (b) The list must include: | ||
| (1) the name of the school district or charter | ||
| district that issued the bond; and | ||
| (2) the bond's outstanding balance. | ||
| SECTION 2. Not later than December 1, 2025, the Texas | ||
| Permanent School Fund Corporation shall post the initial list | ||
| required by Section 45.0625, Education Code, as added by this Act. | ||
| SECTION 3. This Act takes effect September 1, 2025. | ||
