Texas Senate Bill SB2462

Texas 2009 - 81st Regular

• Out of Senate Committee: 4/14/09
• Voted on by Senate: 4/23/09
• Out of House Committee: 5/13/09
• Voted on by House: 5/26/09
• Governor Action: 6/19/09
• Enrolled: 5/27/09
• Passed: 6/19/09

Caption

Relating to the powers and duties of the Falcon's Lair Utility and Reclamation District relating to the issuance of bonds.

Impact

The bill specifically influences how bonds can be issued by the Falcon's Lair Utility and Reclamation District, which could lead to altered financial strategies for funding local projects. The inclusion of impact fees and revenue from tax increment funds as sources for bond repayment can provide greater flexibility in financing, thus potentially enabling more robust investment in local infrastructure or services. Existing provisions that require approval from the Texas Commission on Environmental Quality are also affected, allowing for a more streamlined process for fund acquisition.

Summary

SB2462 addresses the powers and duties of the Falcon's Lair Utility and Reclamation District, especially in relation to the issuance of bonds. The bill amends existing legislation to expand the financial mechanisms available to the district, allowing them to issue bonds secured by various revenue sources, including ad valorem taxes and assessment fees. This change aims to enhance the district's ability to finance improvement projects and services more effectively.

Contention

There may be areas of contention surrounding this bill, particularly concerns about financial accountability and the potential for increased taxation through ad valorem tax use. While proponents argue that the adjustments will facilitate necessary infrastructure improvements without overreliance on state funding, opponents might argue that it could place financial burdens on local taxpayers if not managed transparently. Additionally, discussions could arise around the legal validation of past actions taken by the district before the enactment of this legislation.