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Senate amends revenue‑bond bill to strip Board of Regents student‑loan financing for Gateway office space; HB 328 passes as amended
Summary
Senators debated and then removed language authorizing the Board of Regents to use higher‑education student‑loan program revenue to finance Gateway Center office acquisition; the Hickman amendment passed (15–10) and the amended House Bill 3 28 received final passage (22–3, 4 absent).
Senators reopened House Bill 3 28 on the second reading calendar after concerns were raised about a provision authorizing the Board of Regents to issue revenue bonds backed by the higher‑education student‑loan program to acquire office space in the Gateway Center.
Sen. Hickman moved to remove lines 74–87 of the House floor amendments, arguing it was improper to use student‑loan program funds for office purchases and that the procurement circumvented the Legislature’s debt‑management objectives. Supporters of the existing language and the committee report described the transaction as a modest, in‑house financing: a $3.6 million conversion of leased space to ownership intended to centralize functions and reduce long‑term cost.
The Senate held a roll call on the Hickman amendment; the president announced the amendment passed with 15 yes votes, 10 nays and 4 absent. After the amendment, the Senate proceeded to final passage; the president recorded the final roll call: House Bill 3 28 having received 22 yay votes, 3 nay votes and 4 being absent. The bill, as amended, was referred back to the House for further action.
What this means: The Legislature stripped the specific student‑loan funding authorization for the Regents’ Gateway office acquisition but approved the remainder of the revenue‑bond package as amended.
