82R9121 RWG-D
By: Hughes H.B. No. 3002
A BILL TO BE ENTITLED
AN ACT
relating to certain conservation and reclamation districts
exempted from filing a full audit.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 49.198(a), Water Code, is amended to
read as follows:
(a) A district may elect to file annual financial reports
with the executive director in lieu of the district's compliance
with Section 49.191 provided:
(1) the district had no bonds or other long-term (more
than one year) liabilities outstanding during the fiscal period;
(2) the district did not have gross receipts from
operations, loans, taxes, or contributions in excess of $250,000
[$100,000] during the fiscal period; and
(3) the district's cash and temporary investments were
not in excess of $100,000 at any time during the fiscal period.
SECTION 2. Section 49.198(a), Water Code, as amended by
this Act, applies to a district that files its annual financial
report on or after the effective date of this Act. A district that
files its annual financial report before the effective date of this
Act is governed by the law in effect on the date the report is filed,
and that law is continued in effect for that purpose.
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.