| 1 | 1 | | 82R17834 EAH-D |
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| 2 | 2 | | By: Coleman, Paxton H.B. No. 2944 |
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| 3 | 3 | | Substitute the following for H.B. No. 2944: |
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| 4 | 4 | | By: White C.S.H.B. No. 2944 |
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| 5 | 5 | | |
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| 6 | 6 | | |
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| 7 | 7 | | A BILL TO BE ENTITLED |
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| 8 | 8 | | AN ACT |
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| 9 | 9 | | relating to a searchable database for the bonds and other debt |
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| 10 | 10 | | obligations issued by local governmental entities. |
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| 11 | 11 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 12 | 12 | | SECTION 1. Subchapter B, Chapter 1231, Government Code, is |
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| 13 | 13 | | amended by adding Section 1231.024 to read as follows: |
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| 14 | 14 | | Sec. 1231.024. SEARCHABLE DATABASE FOR BOND AND DEBT |
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| 15 | 15 | | OBLIGATIONS OF LOCAL GOVERNMENTAL ENTITIES. (a) The board shall |
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| 16 | 16 | | develop and maintain a computerized database that: |
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| 17 | 17 | | (1) lists the bond and other debt obligations issued |
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| 18 | 18 | | by each local governmental entity granted debt authority by the |
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| 19 | 19 | | Texas Constitution; and |
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| 20 | 20 | | (2) is searchable by each local governmental entity |
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| 21 | 21 | | within a zip code. |
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| 22 | 22 | | (b) The database must include the: |
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| 23 | 23 | | (1) specific debt issued by each local governmental |
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| 24 | 24 | | entity and the principal, interest, and payments on the debt; |
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| 25 | 25 | | (2) total principal, interest, and payments on all |
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| 26 | 26 | | debt issued by each local governmental entity; and |
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| 27 | 27 | | (3) total principal, interest, and payments on all |
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| 28 | 28 | | debt issued by local governmental entities in each zip code. |
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| 29 | 29 | | (c) The board shall make the database described by |
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| 30 | 30 | | Subsection (a) available to the public on the board's Internet |
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| 31 | 31 | | website. |
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| 32 | 32 | | (d) The comptroller shall provide on the comptroller's |
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| 33 | 33 | | Internet website a link to the database made available by the board |
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| 34 | 34 | | under Subsection (c). |
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| 35 | 35 | | (e) Each local governmental entity shall provide to the |
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| 36 | 36 | | board, at times required by the board, information that the board |
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| 37 | 37 | | determines to be necessary for the database under Subsection (a). |
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| 38 | 38 | | SECTION 2. Not later than September 1, 2012, the Bond Review |
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| 39 | 39 | | Board shall make available on its Internet website the database |
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| 40 | 40 | | described by Section 1231.024, Government Code, as added by this |
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| 41 | 41 | | Act. |
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| 42 | 42 | | SECTION 3. This Act takes effect immediately if it receives |
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| 43 | 43 | | a vote of two-thirds of all the members elected to each house, as |
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| 44 | 44 | | provided by Section 39, Article III, Texas Constitution. If this |
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| 45 | 45 | | Act does not receive the vote necessary for immediate effect, this |
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| 46 | 46 | | Act takes effect September 1, 2011. |
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