Bill > HB2855

This bill authorizes the Board of Regents of The University of Texas System to issue revenue bonds up to $100 million for constructing a new student success building at The University of Texas at El Paso. The board can finance the project through its systemwide revenue financing program and may pledge various revenue funds, including student tuition charges, to repay the bonds. These pledges cannot be reduced while the bonds remain outstanding. In cases where sufficient funds are not immediately available, the board can transfer funds among different University of Texas System institutions to ensure equitable resource allocation. The bill provides flexibility for the university to acquire, construct, improve, renovate, and equip the new facility, including related infrastructure like roads. The legislation will take effect on September 1, 2025, and does not limit the university's existing activities related to facility financing.

Education

https://capitol.texas.gov/BillLookup/History.aspx?LegSess=89R&Bill=HB2855