Print 🖨

The House Committee on Pensions, Investments & Financial Services met on May 9 to take up several bills. This report covers only SB 462 (Campbell), SB 30 (Birdwell), and SB 2224 (Huffman).

This report is intended to give you an overview and highlight of the discussions on the various topics the committee took up. It is not a verbatim transcript of the hearing, but is based upon what was audible or understandable to the observer and the desire to get details out as quickly as possible with few errors or omissions.

 

SB 462 (Campbell) – Relating to ballot propositions authorizing certain political subdivisions to issue debt obligations.

  • Murphy – Under this bill ballot language for political subdivisions seeking to issue new voter approved debt, must distinctly state the purpose for which the debt is being authorized and the principal amount of debt being authorized. Additionally, the language must state the amount of the political subdivisions outstanding debt obligations, taxes enough to make the annual debt obligation payment, and debt service tax rate.

 

James Quintero, Texas Public Policy Foundation

  • This legislation is most helpful when it comes to informed decision making.

 

Ruben Longoria, Texas Association of School Boards

  • The information required in the bill is already required by current law to be placed on the election order.
  • Flynn – You don’t think there is enough information and you’d like some more information, but you feel like this isn’t more information?
    • There is enough information on the ballot itself to let the voter know what the bond is for. The election order has the more detailed information.
  • Stephenson – The average voter should have all this information when they walk in to vote.

 

SB 462 left pending.

 

SB 30 (Birdwell) – Relating to ballot language requirements for a proposition seeking voter approval for the issuance of bonds.

  • Phelan – SB 30 seeks to ensure that bond elections are conducted in a manner that that gives voters more choices in the authorization of bonds.

 

Johnny Hill, Lake Travis ISD

  • SB 30 does not address the ability to include school busses on the ballot proposition as currently allowed in section 45001.
  • We want to make sure that we can still group our sport fields within the construction of our facilities.
  • We also want to make sure that we can still build cafetoriums within the construction of that building.
  • Lastly, we want to make sure that technology that is used for the construction of the building is included in the one item.

 

James Hernandez, Harris County

  • Our concern is that language in section two is too specific for cities and counties.

 

Johnathan Frels, Bracewell LLP

  • Our focus is clarifying that items related to a specific campus can be dealt with under the general proposition.

 

James Quintero, Texas Public Policy Foundation

  • This is a voter empowerment bill.

 

Ruben Longoria, Texas Association of School Boards

  • Our concern with the bill is just subdivision six, on technology. Technology is an integral part of the building itself. We would prefer that it be eliminated.

 

Phelan closed on bill.

  • Senator Birdwell has worked with many stakeholders to get the CS to where it is today.
  • As long as purchased school busses have seatbelts in them, I am happy with that.
  • Regarding housing, there is already case law allowing school districts to provide housing for teachers.

 

SB 30 left pending.

 

SB 2224 (Huffman) – Relating to requiring a public retirement system to adopt a written funding policy.

  • Murphy – This bill requires the governing body of a public retirement system to adopt a written funding policy that details for the plan will achieve a funding ratio of 100% or greater.

 

SB 2224 left pending.