19 TAC §61.1035
The Texas Education Agency (TEA) withdraws the amendment to §61.1035,
concerning assistance with payment of existing debt that was published as
proposed in the October 21, 2005, issue of the
Texas
Register
(30 TexReg 6898). The section includes provisions relating
to the establishment of eligibility; definition of qualifying debt service;
and explanations of limits on assistance, data and payment cycles, deposits
and uses of funds, and refinancing of eligible debt. The proposed amendment
would have modified eligibility for the Existing Debt Allotment (EDA) based
on changes to statutory language, in accordance with Senate Bill 1863, 79th
Texas Legislature, 2005. The proposed changes also would have added requirements
for districts to disclose transactions that affect EDA eligible bonds, including
related debt derivative agreements and refunding transactions. Another proposed
change would have established requirements for maintaining eligibility for
bonds that are refunded. A new proposal addressing statutory changes and updates
to the program will be brought forward at a future date. The EDA program will
continue to operate under existing provisions until such time that future
rule action amends the program.
Public comments on the proposed amendment were received subsequent to publication
in the
Texas Register
. In addition, in response
to public hearing requests submitted by the Texas Association of School Administrators,
Texas Association of School Boards, Northside Independent School District,
and Fast Growth School Coalition, a public hearing to solicit testimony and
input on the proposed amendment to 19 TAC §61.1035 was held on Thursday,
December 8, 2005. Comments received on the proposed amendment will be considered
during the development of a revised proposal.
Filed with the Office of
the Secretary of State on April 13, 2006.
TRD-200602152
Cristina De La Fuente-Valadez
Director, Policy Coordination
Texas Education Agency
Effective date: April 13, 2006
For further information, please call: (512) 475-1497