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