H.B. No. 2119
 
 
 
 
AN ACT
  relating to the application for and loans from the Texas military
  value revolving loan account.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Section 436.054, Government Code, is amended by
  amending Subsection (b) and adding Subsections (c), (d), and (e) to
  read as follows:
         (b)  The commission is a governmental body for purposes of
  the open meetings law, Chapter 551. Except as otherwise provided by
  this section, Chapter 551 applies to a meeting of the commission.
         (c)  The commission may allow for members' participation in a
  meeting by telephone or other means of telecommunication or
  electronic communication to consider an application for a loan from
  the Texas military value revolving loan account. Any voting
  conducted by telephone or other means of telecommunication or
  electronic communication shall be subject to the same quorum
  requirements of meetings where members are present in person.
         (d)  A meeting described by Subsection (c) is subject to the
  notice requirements applicable to other meetings. The notice of
  the meeting must specify as the location of the meeting the location
  where meetings of the commission are usually held.
         (e)  Each part of a meeting described by Subsection (c) that
  is required to be open to the public shall be audible to the public
  at the location specified in the notice of the meeting as the
  location of the meeting and the audio shall be recorded. The audio
  recording shall be made available to the public.
 
         SECTION 2.  Subchapter D, Chapter 436, Government Code, is
  amended by adding Section 436.1533 to read as follows:
         Sec. 436.1533.  USE OF LOAN PROCEEDS TO PAY OTHER DEBT
  INCURRED TO FINANCE PROJECT. A defense community awarded a loan of
  financial assistance from the Texas military value revolving loan
  account for an eligible project under this subchapter may use a
  portion of the loan proceeds to pay off other debt, including
  commercial debt, the defense community incurred for purposes of
  financing the project.
         SECTION 3.  Section 436.154(a), Government Code, is amended
  to read as follows:
         (a)  The commission shall adopt rules, in consultation with
  the Texas Public Finance Authority, that contain the criteria for
  evaluating the credit of a loan applicant and the financial
  feasibility of a project. The commission, in consultation with the
  Texas Public Finance Authority, shall also adopt a loan application
  form. The application form may include:
               (1)  the name of the defense community and its
  principal officers;
               (2)  the total cost of the project;
               (3)  the amount of state financial assistance
  requested;
               (4)  the plan for repaying the loan; and
               (5)  any other information the commission requires to
  perform its duties and to protect the public interest.
         SECTION 4.  This Act takes effect September 1, 2019.
 
 
  ______________________________ ______________________________
     President of the Senate Speaker of the House     
 
 
         I certify that H.B. No. 2119 was passed by the House on April
  24, 2019, by the following vote:  Yeas 147, Nays 0, 1 present, not
  voting; and that the House concurred in Senate amendments to H.B.
  No. 2119 on May 22, 2019, by the following vote:  Yeas 144, Nays 0,
  1 present, not voting.
 
  ______________________________
  Chief Clerk of the House   
 
         I certify that H.B. No. 2119 was passed by the Senate, with
  amendments, on May 14, 2019, by the following vote:  Yeas 31, Nays
  0.
 
  ______________________________
  Secretary of the Senate   
  APPROVED: __________________
                  Date       
   
           __________________
                Governor