Sen. Judith Zaffirini, D-Laredo, has filed a bill allowing Texas state colleges and universities to issue a total of $100 million of tuition revenue bonds. She said she wants to be ready to move if Gov. Rick Perry expands the bills that could be considered in the current special legislative session.
Zaffirini’s proposal to authorize up to $3.2 billion of revenue bonds to finance 74 projects across the state failed to pass during the regular session.
She said the proposed bonds would not require any general fund support. To qualify for the debt, the school would have to have two-thirds of the financing already in place. Any project financed by the bonds must be recommended by the Texas Higher Education Coordinating Board.
Zaffirini was a co-sponsor of a measure passed by the Legislature in 2006 that authorized $1.9 billion of revenue bonds for 66 projects at 48 state colleges and universities.