| 1 | 1 | | H.B. No. 3854 |
|---|
| 2 | 2 | | |
|---|
| 3 | 3 | | |
|---|
| 4 | 4 | | AN ACT |
|---|
| 5 | 5 | | relating to the powers of certain development corporations related |
|---|
| 6 | 6 | | to Hurricane Ike disaster relief and to the validation of certain |
|---|
| 7 | 7 | | governmental acts or proceedings of counties affected by Hurricane |
|---|
| 8 | 8 | | Ike. |
|---|
| 9 | 9 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|---|
| 10 | 10 | | SECTION 1. Chapter 501, Local Government Code, is amended |
|---|
| 11 | 11 | | by adding Subchapter J to read as follows: |
|---|
| 12 | 12 | | SUBCHAPTER J. HURRICANE IKE DISASTER RELIEF |
|---|
| 13 | 13 | | Sec. 501.451. APPLICABILITY. This subchapter applies only |
|---|
| 14 | 14 | | to a corporation the creation of which was authorized by a unit |
|---|
| 15 | 15 | | wholly or partly located in the Hurricane Ike disaster area, as |
|---|
| 16 | 16 | | defined by Section 704, Heartland Disaster Tax Relief Act of 2008 |
|---|
| 17 | 17 | | (Pub. L. No. 110-343). |
|---|
| 18 | 18 | | Sec. 501.452. PROJECTS RELATED TO HURRICANE IKE DISASTER |
|---|
| 19 | 19 | | AREA. For a corporation to which this subchapter applies, in this |
|---|
| 20 | 20 | | subtitle, "project": |
|---|
| 21 | 21 | | (1) includes an undertaking the costs of which are |
|---|
| 22 | 22 | | eligible to be paid from the proceeds of qualified Hurricane Ike |
|---|
| 23 | 23 | | disaster area bonds under Section 704, Heartland Disaster Tax |
|---|
| 24 | 24 | | Relief Act of 2008 (Pub. L. No. 110-343); and |
|---|
| 25 | 25 | | (2) does not include: |
|---|
| 26 | 26 | | (A) a qualified residential rental project, as |
|---|
| 27 | 27 | | defined by Section 142(d), Internal Revenue Code of 1986; or |
|---|
| 28 | 28 | | (B) a project the costs of which are payable from |
|---|
| 29 | 29 | | qualified mortgage bonds, as defined by Section 143, Internal |
|---|
| 30 | 30 | | Revenue Code of 1986. |
|---|
| 31 | 31 | | Sec. 501.453. PROJECTS NOT ADMINISTERED BY ECONOMIC |
|---|
| 32 | 32 | | DEVELOPMENT OFFICE. A project authorized under this subchapter and |
|---|
| 33 | 33 | | bonds issued to pay all or part of the cost of a project under this |
|---|
| 34 | 34 | | subchapter are not subject to the requirements of Subchapter F. |
|---|
| 35 | 35 | | SECTION 2. Title 34, Revised Statutes, is amended by adding |
|---|
| 36 | 36 | | Article 1677 to read as follows: |
|---|
| 37 | 37 | | Art. 1677. GOVERNMENTAL ACTS AND PROCEEDINGS OF COUNTIES |
|---|
| 38 | 38 | | AFFECTED BY HURRICANE IKE |
|---|
| 39 | 39 | | Sec. 1. APPLICATION. This article applies to any county |
|---|
| 40 | 40 | | located in the Hurricane Ike disaster area, as defined by Section |
|---|
| 41 | 41 | | 704, Heartland Disaster Tax Relief Act of 2008 (Pub. L. No. |
|---|
| 42 | 42 | | 110-343). |
|---|
| 43 | 43 | | Sec. 2. PROCEEDINGS VALIDATED. The governmental acts and |
|---|
| 44 | 44 | | proceedings of a county relating to a bond election that was held |
|---|
| 45 | 45 | | November 4, 2008, and at which the ballot proposition was approved |
|---|
| 46 | 46 | | by a majority of the voters voting on the proposition are validated |
|---|
| 47 | 47 | | as of the dates they occurred. The validation includes the |
|---|
| 48 | 48 | | preparation and wording of the ballot proposition, any action taken |
|---|
| 49 | 49 | | by the county in calling and holding the bond election, and any |
|---|
| 50 | 50 | | other action taken by the county before the effective date of this |
|---|
| 51 | 51 | | article in connection with the issuance of any bonds approved in the |
|---|
| 52 | 52 | | bond election. The acts and proceedings may not be held invalid |
|---|
| 53 | 53 | | because they were not performed in accordance with law. A county |
|---|
| 54 | 54 | | may take any further action or conduct any further proceeding |
|---|
| 55 | 55 | | necessary to complete the issuance of the bonds approved at the bond |
|---|
| 56 | 56 | | election, and, when issued, the bonds are valid and binding |
|---|
| 57 | 57 | | obligations of the county in accordance with the terms of the bonds. |
|---|
| 58 | 58 | | SECTION 3. This Act takes effect immediately if it receives |
|---|
| 59 | 59 | | a vote of two-thirds of all the members elected to each house, as |
|---|
| 60 | 60 | | provided by Section 39, Article III, Texas Constitution. If this |
|---|
| 61 | 61 | | Act does not receive the vote necessary for immediate effect, this |
|---|
| 62 | 62 | | Act takes effect September 1, 2009. |
|---|
| 63 | 63 | | ______________________________ ______________________________ |
|---|
| 64 | 64 | | President of the Senate Speaker of the House |
|---|
| 65 | 65 | | I certify that H.B. No. 3854 was passed by the House on April |
|---|
| 66 | 66 | | 22, 2009, by the following vote: Yeas 149, Nays 0, 1 present, not |
|---|
| 67 | 67 | | voting. |
|---|
| 68 | 68 | | ______________________________ |
|---|
| 69 | 69 | | Chief Clerk of the House |
|---|
| 70 | 70 | | I certify that H.B. No. 3854 was passed by the Senate on May |
|---|
| 71 | 71 | | 25, 2009, by the following vote: Yeas 31, Nays 0. |
|---|
| 72 | 72 | | ______________________________ |
|---|
| 73 | 73 | | Secretary of the Senate |
|---|
| 74 | 74 | | APPROVED: _____________________ |
|---|
| 75 | 75 | | Date |
|---|
| 76 | 76 | | _____________________ |
|---|
| 77 | 77 | | Governor |
|---|