The bill, S.B. No. 1017, authorizes the issuance of revenue bonds specifically for capital projects at The University of Texas at El Paso (UTEP). It introduces a new section, Sec. 55.17992, to the Education Code, allowing the board of regents of The University of Texas System to acquire, construct, and improve facilities, including a student success building, with a total bond issuance not exceeding $100 million. The board is also permitted to pledge revenue funds, including student tuition, to secure the payment of these bonds, ensuring that such pledges cannot be reduced while the bonds are outstanding.

Additionally, the bill allows the board to transfer funds among various institutions within the University of Texas System if necessary to meet its obligations under this section. It clarifies that the act does not alter any existing authority or restrictions related to the activities of public institutions of higher education concerning facilities financed by the bonds. The provisions of this act are set to take effect on September 1, 2025.

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