Plain English summary not yet available
The full original text is available below. Check back soon as we process this bill.
  89R10833 KJE-D     By: Middleton S.B. No. 1382       A BILL TO BE ENTITLED   AN ACT   relating to the eligibility of certain school districts with   outstanding debt for the guarantee of a bond 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 45.0542 to read as follows:           Sec.   45.0542.     ELIGIBILITY OF CERTAIN SCHOOL DISTRICTS WITH   OUTSTANDING DEBT. The commissioner may approve the guarantee of a   school district's eligible bonds under this subchapter only if the   ratio of the total amount of the district's outstanding bonds to the   number of students enrolled in the district is not more than $10,000   per student.          SECTION 2.  The change in law made by this Act applies only   to the guarantee of a school district's bond under Subchapter C,   Chapter 45, Education Code, as amended by this Act, that is issued   on or after the effective date of this Act.  The guarantee of a   school district's bond under that subchapter that is issued before   the effective date of this Act is governed by the law in effect on   the date the bond was issued, and the former law is continued in   effect for that purpose.          SECTION 3.  This Act takes effect September 1, 2025.