HBA-NLM H.B. 3044 76(R) BILL ANALYSIS Office of House Bill AnalysisH.B. 3044 By: Hunter Financial Institutions 3/25/1999 Introduced BACKGROUND AND PURPOSE The Hinson-Hazelwood College Student Loan program, established in 1965, has provided loans to more than 261,000 low and moderate income students. H.B. 3044 authorizes $400 million in general obligation bonds for the student loan program administered by the Texas Higher Education Coordinating Board, and authorizes the issuance of bonds. . RULEMAKING AUTHORITY It is the opinion of the Office of House Bill Analysis that this bill does not expressly delegate any additional rulemaking authority to a state officer, department, agency, or institution. SECTION BY SECTION ANALYSIS SECTION 1. Amends Section 52.81(2), Education Code, to expand the definition of "bond" by including a general obligation bond issued by the Texas Higher Education Coordinating Board under Section 50b-5, Article III (Student Loans), Texas Constitution. SECTION 2. Amends Section 52.82(a), Education Code, to provide that the issuance of general obligation bonds may not exceed $400 million under Section 50b-5, Article III, Texas Constitution. SECTION 3. Amends Section 52.87, Education Code, to make a conforming change. SECTION 4. Provides that this Act takes effect on the date on which the constitutional amendment proposed by the 76th Legislature, Regular Session, 1999, providing for the issuance of $400 million in general obligation bonds to finance educational loans to students, takes effect. Provides that this Act has no effect if that amendment is not approved by the voters. SECTION 5. Emergency clause. Effective date: 90 days after adjournment.