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A BILL TO BE ENTITLED
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AN ACT
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relating to the posting of information regarding certain bonds |
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guaranteed by the permanent school fund. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter C, Chapter 45, Education Code, is |
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amended by adding Section 45.0625 to read as follows: |
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Sec. 45.0625. POSTING OF DOWNGRADED RATINGS. (a) Not later |
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than the first day of each quarter of the state fiscal year, the |
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Texas Permanent School Fund Corporation shall post on the |
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corporation's Internet website a list of each existing bond |
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guaranteed under this subchapter that has been downgraded to a |
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speculative bond rating. |
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(b) The list must include: |
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(1) the name of the school district or charter |
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district that issued the bond; and |
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(2) the bond's outstanding balance. |
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SECTION 2. Not later than December 1, 2025, the Texas |
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Permanent School Fund Corporation shall post the initial list |
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required by Section 45.0625, Education Code, as added by this Act. |
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SECTION 3. This Act takes effect September 1, 2025. |