Texas Legislature Guarantees $3.3 Billion in Bonds for Public University Renovations

  • by:
  • Source: The Texan
  • 10/20/2021
In a race to the finish line, the Texas legislature agreed to cover $3.3 billion in tuition revenue bonds for building projects at public universities.

Senate Bill (SB) 52 by state Sen. Brandon Creighton (R-Conroe) passed out of conference committee today just before the legislature adjourned. The bill authorizes Texas public universities to borrow over $3 billion for construction and renovation that will ultimately be repaid from state funds.

To correct a misnomer, the bill changes the name from “tuition revenue bonds” to “capital construction assistance projects.” On paper, universities that issue these bonds would pay them back with money they take in from students’ tuition payments; however, in practice, the state covers these debts.

It quickly passed both chambers by wide margins, facing opposition only from the most conservative wings of the legislature.
3903 Melear Dr. 151013
Arlington, TX 76015
Privacy Policy
© 2021 Chad Prather for Texas - All Rights Reserved.