The bill, S.B. No. 1095, authorizes the issuance of revenue bonds for capital projects at Sul Ross State University, specifically for the expansion of agricultural, life, and physical sciences facilities. It adds a new section, 55.17994, to Subchapter B, Chapter 55 of the Education Code, which allows the board of regents of the Texas State University System to acquire, construct, improve, or equip property and facilities for the university. The total amount of bonds that can be issued under this provision is capped at $70,000,000. Additionally, the board may pledge revenue funds, including student tuition charges, to secure the payment of these bonds, with the stipulation that such pledges cannot be reduced while the bonds are outstanding.

Furthermore, the bill allows the board to transfer funds among institutions within the Texas State University System if there are insufficient funds to meet obligations under this section, ensuring equitable resource allocation. The bill clarifies that it does not alter any existing authority or restrictions related to activities conducted by public institutions of higher education in connection with facilities financed by the authorized bonds. The act is set to take effect immediately upon receiving a two-thirds vote from both houses or on September 1, 2025, if that vote is not achieved.

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