Austin – Governor Abbott has signed into law Senate Bill 52, which clears the way for approximately $3.3 billion in capital projects for higher education institutions across the state of Texas.
The Texas State University System has been approved for approximately $442 million in projects, including a new STEM building at Texas State University’s San Marcos campus.
Rep. Zwiener (D-Driftwood), who serves on the House Appropriations Committee and is vice chair of Article III-Education, released the following statement:
“Texas State University welcomes more and more students every year. The university enrolled the highest number of new students for the fall 2021 semester, surpassing 11,000 for the first time. This investment will allow the State of Texas to continue to meet the needs of these students, improve STEM education, and help develop a modern workforce for Texas.
Tuition revenue bonds are tools that public higher education institutions can use to fund capital construction. They are guaranteed by the State of Texas, and the state covers the financing costs and contributes to the projects over time, which is why they require legislative approval. The last time the legislature approved tuition revenue bonds was in 2015.