House Bill No. 2855 authorizes the issuance of revenue bonds specifically for capital projects at The University of Texas at El Paso (UTEP). The bill adds a new section, Section 55.17992, to the Education Code, which allows 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 bonds will be financed through a systemwide revenue financing program and can be secured by pledging revenue funds, including student tuition charges, which cannot be reduced while the bonds are outstanding.

Additionally, the bill permits the board to transfer funds among various institutions within The University of Texas System if there are insufficient funds to meet obligations under this section, ensuring equitable resource allocation. The legislation 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 bonds. The act is set to take effect on September 1, 2025.

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