82R10782 MXM-D
By: Coleman H.B. No. 2943
A BILL TO BE ENTITLED
AN ACT
relating to property taxing entities' bond and debt reporting
requirements to the Bond Review Board.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Subtitle C, Title 4, Local Government Code, is
amended by adding Chapter 134 to read as follows:
CHAPTER 134. BONDS AND OTHER DEBT
SUBCHAPTER A. GENERAL PROVISIONS
Sec. 134.001. DEFINITIONS. In this chapter:
(1) "Debt" has the meaning assigned by Section 26.012,
Tax Code.
(2) "Property taxing entity" has the meaning assigned
to a taxing unit by Section 1.04, Tax Code.
[Sections 134.002-134.050 reserved for expansion]
SUBCHAPTER B. REPORTING REQUIREMENTS
Sec. 134.051. BONDS AND OTHER DEBT REPORTED TO BOND REVIEW
BOARD. (a) Each property taxing entity shall report all proposed
bond initiatives and debt to the Bond Review Board.
(b) A property taxing entity is required to comply with the
mandate under this section only if the legislature appropriates or
otherwise provides, from a source other than the revenue of the
property taxing entity, for the payment or reimbursement of costs
incurred in the calendar year by the entity in complying with the
mandate.
SECTION 2. This Act takes effect September 1, 2011.