Bill

HB 586

87(R) - 2021
House Public Education
House Public Education
Education

Contact the Author

Sheryl Cole

Phone:

512-463-0506

Capitol Office:

Room E1.218

Email:

Vote Recommendation

No
  • Neutral
  • Neutral
  • Neutral
  • Negative
  • Negative

Author(s)

Sheryl Cole
Celia Israel
Gary VanDeaver

Co-Author(s)

John H Bucy III
Harold Dutton Jr.
Geanie Morrison
Four Price

Bill Caption

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.

Fiscal Notes

Estimated Two¬≠year 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. 

Bill Analysis

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

Vote Recommendation Notes

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. 

Contact the Author

Sheryl Cole

Phone:

512-463-0506

Capitol Office:

Room E1.218

Email: