Texas 2009 - 81st Regular

Texas Senate Bill SB1752 Compare Versions

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1	1	By: Jackson S.B. No. 1752
2	2	(In the Senate - Filed March 11, 2009; March 20, 2009, read
3	3	first time and referred to Subcommittee on Flooding and
4	4	Evacuations; April 23, 2009, reported favorably from Committee on
5	5	Intergovernmental Relations by the following vote: Yeas 5, Nays 0;
6	6	April 23, 2009, sent to printer.)
7	7
8	8
9	9	A BILL TO BE ENTITLED
10	10	AN ACT
11	11	relating to the powers of certain development corporations related
12	12	to Hurricane Ike disaster relief and to the validation of certain
13	13	governmental acts or proceedings of counties affected by Hurricane
14	14	Ike.
15	15	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
16	16	SECTION 1. Chapter 501, Local Government Code, is amended
17	17	by adding Subchapter J to read as follows:
18	18	SUBCHAPTER J. HURRICANE IKE DISASTER RELIEF
19	19	Sec. 501.451. APPLICABILITY. This subchapter applies only
20	20	to a corporation the creation of which was authorized by a unit
21	21	wholly or partly located in the Hurricane Ike disaster area, as
22	22	defined by Section 704, Heartland Disaster Tax Relief Act of 2008
23	23	(Pub. L. No. 110-343).
24	24	Sec. 501.452. PROJECTS RELATED TO HURRICANE IKE DISASTER
25	25	AREA. For a corporation to which this subchapter applies, in this
26	26	subtitle, "project":
27	27	(1) includes an undertaking the costs of which are
28	28	eligible to be paid from the proceeds of qualified Hurricane Ike
29	29	disaster area bonds under Section 704, Heartland Disaster Tax
30	30	Relief Act of 2008 (Pub. L. No. 110-343); and
31	31	(2) does not include:
32	32	(A) a qualified residential rental project, as
33	33	defined by Section 142(d), Internal Revenue Code of 1986; or
34	34	(B) a project the costs of which are payable from
35	35	qualified mortgage bonds, as defined by Section 143, Internal
36	36	Revenue Code of 1986.
37	37	Sec. 501.453. PROJECTS NOT ADMINISTERED BY ECONOMIC
38	38	DEVELOPMENT OFFICE. A project authorized under this subchapter and
39	39	bonds issued to pay all or part of the cost of a project under this
40	40	subchapter are not subject to the requirements of Subchapter F.
41	41	SECTION 2. Title 34, Revised Statutes, is amended by adding
42	42	Article 1677 to read as follows:
43	43	Art. 1677. GOVERNMENTAL ACTS AND PROCEEDINGS OF COUNTIES
44	44	AFFECTED BY HURRICANE IKE
45	45	Sec. 1. APPLICATION. This article applies to any county
46	46	located in the Hurricane Ike disaster area, as defined by Section
47	47	704, Heartland Disaster Tax Relief Act of 2008 (Pub. L. No.
48	48	110-343).
49	49	Sec. 2. PROCEEDINGS VALIDATED. The governmental acts and
50	50	proceedings of a county relating to a bond election that was held
51	51	November 4, 2008, and at which the ballot proposition was approved
52	52	by a majority of the voters voting on the proposition are validated
53	53	as of the dates they occurred. The validation includes the
54	54	preparation and wording of the ballot proposition, any action taken
55	55	by the county in calling and holding the bond election, and any
56	56	other action taken by the county before the effective date of this
57	57	article in connection with the issuance of any bonds approved in the
58	58	bond election. The acts and proceedings may not be held invalid
59	59	because they were not performed in accordance with law. A county
60	60	may take any further action or conduct any further proceeding
61	61	necessary to complete the issuance of the bonds approved at the bond
62	62	election, and, when issued, the bonds are valid and binding
63	63	obligations of the county in accordance with the terms of the bonds.
64	64	SECTION 3. This Act takes effect immediately if it receives
65	65	a vote of two-thirds of all the members elected to each house, as
66	66	provided by Section 39, Article III, Texas Constitution. If this
67	67	Act does not receive the vote necessary for immediate effect, this
68	68	Act takes effect September 1, 2009.
69	69	* * * * *