HBA-RBT C.S.S.B. 1171 76(R)BILL ANALYSIS Office of House Bill AnalysisC.S.S.B. 1171 By: Wentworth Natural Resources 5/13/1999 Committee Report (Substituted) BACKGROUND AND PURPOSE Currently, Texas law regulates certain powers and authority of the Upper Guadalupe River Authority (authority) to borrow money for corporate purposes. C.S.S.B. 1171 increases from $1 million to $55 million the maximum amount of a note issued by the authority and authorizes the notes to mature over a term of 40 years. 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 Subsections (c) and (d), Section 10(c), Article 8280-124, V.T.C.S., to prohibit a note issued under this section from exceeding $55 million in the aggregate, rather than $1 million. Authorizes notes to mature over a term of not more than 40 years, rather than 20 years. SECTION 2. Sets forth legislative intent. SECTION 3. Provides that the proper and legal notice of intent to introduce this Act has been met. Provides that the Texas Natural Resource Conservation Commission has filed its recommendations with certain persons within the required time. Provides that all requirements of the constitution and laws of this state and the rules and procedures of the legislature with respect to the notice, introduction, and passage of this Act are fulfilled and accomplished. Effective date: 90 days after adjournment. COMPARISON OF ORIGINAL TO SUBSTITUTE The substitute differs from the original in SECTION 1 by amending, rather than deleting, Subsection (c) of Section 10(c), Article 8280-124, V.T.C.S., to prohibit a note issued under this section from exceeding $55 million in the aggregate, rather than $1 million. The substitute differs from the original by adding a new SECTION 2, which sets forth legislative intent. The substitute differs from the original by redesignating SECTION 2 of the original as SECTION 3 of the substitute.