82R20310 JAM-F
By: McClendon H.B. No. 2396
Substitute the following for H.B. No. 2396:
By: Bonnen C.S.H.B. No. 2396
A BILL TO BE ENTITLED
AN ACT
relating to the pledge of advanced transportation district sales
and use taxes to certain bonds.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Sections 451.702(a) and (l), Transportation
Code, are amended to read as follows:
(a) The board of an authority in which the sales and use tax
is imposed at a rate of one-half of one percent and in which the
principal municipality has a population of more than 1.3 million
[700,000] may order an election to create an advanced
transportation district within the authority's boundaries and to
impose a sales and use tax for advanced transportation and mobility
enhancement under this subchapter. If approved at the election,
the rate of the sales and use tax for advanced transportation and
mobility enhancement shall be set by the governing body of the
district at a rate of:
(1) one-eighth of one percent;
(2) one-fourth of one percent;
(3) three-eighths of one percent; or
(4) one-half of one percent.
(l) Notwithstanding any other provision of this chapter,
the [The] governing body of a [the] district may without the
necessity of an election specifically concerning the matter:
(1) pledge the sales and use tax proceeds identified
in Subsection (f) from a sales and use tax imposed by an election
held under this section after May 21, 1999, to one or more series of
sales and use tax revenue bonds issued under Subchapter H; and
(2) enter into an agreement or contractual arrangement
under Subsection (k) [without the necessity of an election].
SECTION 2. This Act takes effect September 1, 2011.