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Relating to the creation of a state financing program administered
by the Texas Public Finance Authority to assist school districts
with certain expenses; granting authority to issue bonds or other
obligations.
Estimated Twoyear Net Impact to General Revenue Related Funds for HB586, As Introduced : a
negative impact of ($216,702) through the biennium ending August 31, 2023.
The bill would make no appropriation but could provide the legal basis for an appropriation of funds to
implement the provisions of the bill.
HB 586 would create the Texas Public Finance Authority which would be allowed to issue and sell obligations to finance loans to eligible school districts for eligible purposes, such as the purchase of vehicles, equipment, or appliances for sale, a lease or other agreement that concerns equipment, and costs associated with improvement of existing instructional facilities
Texas Action is opposed to HB 586 on the principles of limited government and individual liberty. It is unnecessary to burden the public for the cost of creating an agency to redistribute their taxes to school districts.
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