AUSTIN, TEXAS – State Representative John Raney (R-Bryan/College Station) of House District 14 joins the effort to address Tuition Revenue Bonds by signing on to House Bill 5 by Representative Dan Branch of Dallas. The bill was voted out of the Committee on Appropriations today; however, Governor Perry must add this topic to the call before it can progress any further through the legislative process.
Tuition Revenue Bonds are authorized by the legislature to fund capital projects at Texas colleges and universities. Their debt service is paid for by the revenue of the project for which it was issued.
“I have stated before my desire for Governor Perry to add Tuition Revenue Bonds to the call, and with nineteen days left in the special session, there is still plenty of time to do so,” Representative Raney said. “By not addressing Tuition Revenue Bonds, higher education will take a substantial hit. Institutions must have a reliable, low-interest, long-term source of funding to construct, renovate, and equip their buildings, roads, and infrastructure. Institutions’ hands are tied and growth is stifled if we, the Legislature and the Governor, don’t provide an additional funding source sooner rather than later.”
Representative Raney just completed his first full term in the Texas House of Representatives. He serves on the committees on Higher Education, House Administration, and Appropriations. He also serves on the Appropriations subcommittees for Budget Transparency and Reform and Articles VI, VII, and VIII.