83R1746 TJB-D
By: Pitts H.B. No. 14
A BILL TO BE ENTITLED
AN ACT
relating to the fiscal transparency and accountability of certain
entities responsible for public money.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Chapter 46, Education Code, is amended by adding
Subchapter D to read as follows:
SUBCHAPTER D. PUBLIC INFORMATION REGARDING FACILITIES
Sec. 46.101. DEFINITION. In this subchapter,
"instructional facility" has the meaning assigned by Section
46.001.
Sec. 46.102. INVENTORY OF EXISTING FACILITIES. (a) A
school district or open-enrollment charter school shall post an
inventory of the district's or school's existing facilities on the
district's or school's Internet website.
(b) The inventory must include at least the following
information regarding instructional facilities:
(1) the total available square footage and maximum
student capacity of the district's or school's instructional
facilities in aggregate;
(2) the total current student enrollment in the
district or school; and
(3) for each separate instructional facility:
(A) square footage;
(B) maximum student capacity; and
(C) current student enrollment.
(c) The inventory must include at least the following
information regarding each facility other than an instructional
facility:
(1) square footage;
(2) a statement of the facility's current use; and
(3) any other information specified by rule adopted by
the commissioner.
(d) For a facility for which the school district or
open-enrollment charter school developed and posted construction
or renovation information in accordance with Section 46.103, the
information provided under this section for the facility must also
include the final updated information required under Section
46.103. This subsection does not require a district or school to
develop and post information regarding construction or renovation
costs for a facility not subject to Section 46.103.
(e) A school district or open-enrollment charter school
shall update the information posted under this section at least
annually and more frequently if necessary to ensure that the
information provides an accurate description of existing
facilities.
(f) A school district or open-enrollment charter school
shall maintain an Internet website to comply with this section.
Sec. 46.103. CONSTRUCTION AND RENOVATION OF FACILITIES.
(a) A school district or open-enrollment charter school shall post
on the district's or school's Internet website at least the
information specified by this section regarding each project for
the construction or renovation of a facility.
(b) The following information must be posted regarding an
instructional facility:
(1) the square footage of the facility;
(2) the square footage per student, computed using the
maximum student capacity at the facility;
(3) the cost per square foot;
(4) the cost per student, computed using the maximum
student capacity at the facility; and
(5) the average cost of constructing a comparable
facility in the region, as determined by the commissioner under
Subsection (f).
(c) The following information must be posted regarding a
facility other than an instructional facility:
(1) the square footage of the facility;
(2) a statement of the intended use of the facility;
(3) the cost per square foot;
(4) the average cost of constructing a comparable
facility in the region, as determined by the commissioner under
Subsection (f); and
(5) any other information specified by rule adopted by
the commissioner.
(d) A school district or open-enrollment charter school
shall comply with this section at the beginning of a project by
posting information based on estimated costs and anticipated
construction or renovation design plans. At the conclusion of the
project, the district or school shall post updated information that
reflects the actual cost and final specifications of the project.
Subsequently, the district or school shall continue to post the
information as provided by Section 46.102(d).
(e) A school district or open-enrollment charter school
shall maintain an Internet website to comply with this section.
(f) The commissioner shall determine and periodically
update information regarding the average cost per square foot in
each region of the state of constructing instructional facilities
and other school district or open-enrollment charter school
facilities. The commissioner may base a determination under this
subsection on any relevant information available to the
commissioner and may enter into any contract necessary to authorize
use of or access to the information.
SECTION 2. Section 51.005, Education Code, is amended to
read as follows:
Sec. 51.005. ANNUAL FINANCIAL REPORT [REPORTS]. (a) Each
institution of higher education shall:
(1) prepare a complete annual financial report as
prescribed by Section 2101.011, Government Code; and
(2) post the institution's most recent annual
financial report continuously on the institution's Internet
website.
(b) Each institution of higher education that is a component
of a university system shall include in its annual financial report
a description of any debt issued by the university system for or on
behalf of the institution during the fiscal year covered by the
report. In this subsection, "university system" has the meaning
assigned by Section 61.003.
SECTION 3. Subchapter C, Chapter 61, Education Code, is
amended by adding Section 61.0621 to read as follows:
Sec. 61.0621. JUNIOR COLLEGE DISTRICT CONSTRUCTION COST
REPORTING. (a) The board shall require each junior college
district to report building construction costs and related
information to the board for the purpose of determining:
(1) the average cost per square foot, adjusted for
inflation for the region of the state in which the project is
located; and
(2) the average cost per student for each junior
college district.
(b) The board, in consultation with the governing boards of
the state's junior college districts, shall prescribe the form,
manner, and times of reports required under this section.
(c) The board shall compile the information reported under
Subsection (a) for all junior college districts and periodically
report its findings to the districts. The board and each junior
college district shall post the board's findings on each respective
entity's Internet website.
(d) The board shall adopt rules for the administration of
this section.
(e) In administering this section, the board shall attempt
to avoid duplicating other reporting requirements applicable to
junior college districts.
SECTION 4. Subchapter B, Chapter 403, Government Code, is
amended by adding Section 403.0117 to read as follows:
Sec. 403.0117. LOCAL TAX RATES PUBLISHED ON INTERNET. (a)
The comptroller shall publish on the comptroller's Internet
website, listed by county:
(1) the name of each political subdivision that
imposes a sales and use tax and the sales and use tax rate for the
political subdivision; and
(2) the tax rate information reported to the
comptroller by each county assessor-collector under Section
26.16(e), Tax Code.
(b) The comptroller shall update the information described
by Subsection (a) at least annually.
SECTION 5. Section 1202.008, Government Code, is amended to
read as follows:
Sec. 1202.008. COLLECTION AND REPORT OF INFORMATION ON
LOCAL [PUBLIC] SECURITIES [OF POLITICAL SUBDIVISIONS]. (a) In
this section, "local security" has the meaning assigned by Section
1231.001.
(b) In reviewing public securities under this chapter, the
attorney general shall [may] collect, in the form required by the
Bond Review Board, information on each local security [public
securities issued by a municipal corporation or political
subdivision of this state].
(c) [(b)] The information must include:
(1) the terms of each local security [the public
securities];
(2) the debt service payable on each local security
[the public securities]; and
(3) other information required by the Bond Review
Board.
(d) [(c)] The attorney general shall send the information
to the Bond Review Board for inclusion in the reports required by
Sections [board's report of debt statistics under Section]
1231.062, 1231.104, and 1231.105.
(e) The attorney general may not approve a local security
under Section 1202.003 until the attorney general receives written
notification from the Bond Review Board that the board:
(1) has received the information required by
Subsection (c); or
(2) has agreed to a later date for the submission of
the information.
SECTION 6. The heading to Subtitle B, Title 9, Government
Code, is amended to read as follows:
SUBTITLE B. PROVISIONS APPLICABLE TO PUBLIC SECURITIES [ISSUED BY
STATE GOVERNMENT]
SECTION 7. Section 1231.001, Government Code, is amended by
adding Subdivision (4) to read as follows:
(4) "Local security" means a public security as
defined by Section 1201.002, other than a state security.
SECTION 8. Section 1231.062(b), Government Code, is amended
to read as follows:
(b) A report must include:
(1) total debt service as a percentage of total
expenditures;
(2) total debt [tax-supported debt service as a
percentage of general revenue expenditure;
[(3)] per capita [total debt];
(3) tax-supported debt [(4) per capita tax-supported
debt;
[(5) total debt and tax-supported debt as a percentage
of personal income;
[(6) total personal income per capita;
[(7) total debt per capita as a percentage of total
personal income] per capita;
(4) [(8)] total debt and tax-supported debt as a
percentage of real property valuations;
(5) [(9) total debt and tax-supported debt as a
percentage of annual revenues and expenditures;
[(10)] principal scheduled [required] to be repaid in
five years, [and principal required to be repaid in] 10 years, and
20 years;
(6) [(11) growth rates of total debt per capita and
total debt per dollar of personal income;
[(12)] recent issuances [trends in the issuance] of
short-term notes;
(7) [(13)] recent trends in issuance costs;
(8) [(14)] savings from recent refundings;
(9) debt outstanding [(15) recent trends in
capitalized interest use;
[(16) debt service coverage ratios, if applicable];
and
(10) [(17)] other information the board considers
relevant.
SECTION 9. The heading to Section 1231.102, Government
Code, is amended to read as follows:
Sec. 1231.102. STATE SECURITIES ANNUAL REPORT.
SECTION 10. Subchapter F, Chapter 1231, Government Code, is
amended by adding Sections 1231.104, 1231.105, and 1231.106 to read
as follows:
Sec. 1231.104. LOCAL SECURITIES ANNUAL REPORT. Not later
than the 180th day after the end of each state fiscal year, the bond
finance office shall publish a report listing:
(1) the amount of local securities outstanding;
(2) applicable repayment schedules; and
(3) other information the office considers relevant.
Sec. 1231.105. ONLINE ANNUAL LOCAL DEBT STATISTICS REPORT.
Not later than the 150th day after the end of each state fiscal
year, the bond finance office shall publish on the office's
Internet website a report that includes the statistical information
listed in Section 1231.062(b) for all local securities for the
preceding fiscal year.
Sec. 1231.106. REQUIRED INFORMATION. (a) An issuer of a
local security shall provide annually to the bond finance office,
and at other times required by the office, information that the
office determines necessary to administer the powers or duties of
the board or the office, including the preparation of any report.
(b) The bond finance office shall develop a standardized
format to simplify the submission of information by an issuer under
this section.
SECTION 11. Chapter 1251, Government Code, is amended by
designating Sections 1251.001, 1251.002, 1251.003, 1251.004,
1251.005, and 1251.006 as Subchapter A and adding a heading to
Subchapter A to read as follows:
SUBCHAPTER A. COUNTIES AND MUNICIPALITIES
SECTION 12. Chapter 1251, Government Code, is amended by
adding Subchapter B to read as follows:
SUBCHAPTER B. BOND MATTERS AFFECTING MORE THAN ONE TYPE OF
POLITICAL SUBDIVISION
Sec. 1251.051. DEFINITIONS. In this subchapter:
(1) "Debt obligation" means an issued public security,
as defined by Section 1201.002.
(2) "Political subdivision" means a county,
municipality, school district, junior college district, other
special district, or other subdivision of state government.
Sec. 1251.052. CONTENTS OF BALLOT PROPOSITION. (a) The
proposition submitted for an election to authorize a political
subdivision to issue bonds must distinctly state:
(1) as a total amount and as a per capita amount:
(A) the then-current principal of all
outstanding debt obligations of the political subdivision;
(B) the then-current combined principal and
interest required to pay all outstanding debt obligations of the
political subdivision on time and in full;
(C) the principal of the bonds to be authorized;
and
(D) the estimated combined principal and
interest required to pay the bonds to be authorized on time and in
full;
(2) the purpose for which the bonds are to be
authorized;
(3) the estimated rate of interest for the bonds to be
authorized; and
(4) the maturity date of the bonds to be authorized.
(b) The requirements for a proposition prescribed by this
section are in addition to any other requirements prescribed by
law. To the extent of a conflict between this section and Section
52.072, Election Code, this section controls.
Sec. 1251.053. ONLINE SAMPLE BALLOT. A sample of the ballot
printed for an election to authorize a political subdivision to
issue bonds must be posted on the political subdivision's Internet
website as soon as practicable after the official ballots have been
prepared and must remain posted until the day following the
election.
Sec. 1251.054. FORM OF BALLOT. The secretary of state shall
prescribe a form of the ballot for an election held under this
subchapter. A political subdivision is not required to use the
form.
SECTION 13. Section 140.005, Local Government Code, is
transferred to Subchapter D, Chapter 12, Education Code,
redesignated as Section 12.1191, Education Code, and amended to
read as follows:
Sec. 12.1191 [140.005]. ANNUAL FINANCIAL STATEMENT OF
CHARTER SCHOOL [, ROAD, OR OTHER DISTRICT]. (a) The governing body
of an [a school district,] open-enrollment charter school [, junior
college district, or a district or authority organized under
Article III, Section 52, or Article XVI, Section 59, of the Texas
Constitution,] shall prepare an annual financial statement showing
for each fund subject to the authority of the governing body during
the fiscal year:
(1) the total receipts of the fund, itemized by source
of revenue, including taxes, assessments, service charges, grants
of state money, gifts, or other general sources from which funds are
derived;
(2) the total disbursements of the fund, itemized by
the nature of the expenditure; and
(3) the balance in the fund at the close of the fiscal
year.
(b) The governing body of an open-enrollment charter school
shall take action to ensure that the school's annual financial
report is made available in the manner provided by Chapter 552,
Government Code, and is posted continuously on the school's
Internet website.
(c) An open-enrollment charter school shall maintain an
Internet website to comply with this section.
SECTION 14. Chapter 140, Local Government Code, is amended
by adding Section 140.008 to read as follows:
Sec. 140.008. ANNUAL FINANCIAL REPORT; DEBT INFORMATION.
(a) In this section:
(1) "Debt obligation" means an issued public security,
as defined by Section 1201.002, Government Code.
(2) "Political subdivision" means a county,
municipality, school district, junior college district, other
special district, or other subdivision of state government.
(b) A political subdivision shall prepare an annual
financial report that includes:
(1) financial information for each fund subject to the
authority of the governing body of the political subdivision during
the fiscal year, including:
(A) the total receipts of the fund, itemized by
source of revenue, including taxes, assessments, service charges,
grants of state money, gifts, or other general sources from which
funds are derived;
(B) the total disbursements of the fund, itemized
by the nature of the expenditure;
(C) the balance in the fund as of the last day of
the fiscal year; and
(D) any other information required by law to be
included by the political subdivision in an annual financial report
or comparable annual financial statement, exhibit, or report; and
(2) then-current debt obligation information for the
political subdivision that must state:
(A) as a total amount and as a per capita amount:
(i) the amount of all authorized debt
obligations;
(ii) the principal of all outstanding debt
obligations;
(iii) the principal of each outstanding
debt obligation;
(iv) the combined principal and interest
required to pay all outstanding debt obligations on time and in
full; and
(v) the combined principal and interest
required to pay each outstanding debt obligation on time and in
full; and
(B) for each debt obligation:
(i) the issued and unissued amount;
(ii) the spent and unspent amount;
(iii) the maturity date; and
(iv) the stated purpose for which the debt
obligation was authorized.
(c) The governing body of a political subdivision shall take
action to ensure that:
(1) the political subdivision's annual financial
report is made available for inspection by any person and is posted
continuously on the political subdivision's Internet website; and
(2) the contact information for the main office of the
political subdivision is continuously posted on the website,
including the physical address, the mailing address, the main
telephone number, and an e-mail address.
(d) A political subdivision shall maintain an Internet
website to comply with this section.
SECTION 15. Section 271.047, Local Government Code, is
amended by adding Subsection (d) to read as follows:
(d) Except in a case of grave public necessity to meet an
unusual and unforeseen condition, the governing body of an issuer
may not authorize a certificate to pay a contractual obligation to
be incurred if a bond proposition to authorize the issuance of bonds
for the same purpose was submitted to the voters during the
preceding three years and failed to be approved.
SECTION 16. Section 271.049, Local Government Code, is
amended to read as follows:
Sec. 271.049. NOTICE OF INTENTION TO ISSUE CERTIFICATES;
PETITION AND ELECTION. (a) Regardless of the sources of payment of
certificates, certificates may not be issued unless the issuer
publishes notice of its intention to issue the certificates. The
notice must be published:
(1) once a week for two consecutive weeks in a
newspaper, as defined by Subchapter C, Chapter 2051, Government
Code, that is of general circulation in the area of the issuer, with
the date of the first publication to be before the 45th [30th] day
before the date tentatively set for the passage of the order or
ordinance authorizing the issuance of the certificates; and
(2) continuously on the issuer's Internet website for
at least 45 days before the date tentatively set for the passage of
the order or ordinance authorizing the issuance of the
certificates.
(b) The notice must state:
(1) the time and place tentatively set for the passage
of the order or ordinance authorizing the issuance of the
certificates;
(2) the [maximum amount and] purpose of the
certificates to be authorized; [and]
(3) the manner in which the certificates will be paid
for, whether by taxes, revenues, or a combination of the two;
(4) the following, stated as a total amount and as a
per capita amount:
(A) the then-current principal of all
outstanding debt obligations of the issuer;
(B) the then-current combined principal and
interest required to pay all outstanding debt obligations of the
issuer on time and in full;
(C) the principal of the certificates to be
authorized; and
(D) the estimated combined principal and
interest required to pay the certificates to be authorized on time
and in full;
(5) the estimated rate of interest for the
certificates to be authorized;
(6) the maturity date of the certificates to be
authorized; and
(7) the process by which a petition may be submitted
requesting an election on the issuance of the certificates, in the
following form:
"Five percent of the total number of voters of (name of
issuer) that voted in the most recent gubernatorial general
election may petition to require an election to be held authorizing
the issuance of certificates of obligation by delivering a signed
petition to the (insert "secretary or clerk" if the issuer is a
municipality, or "county clerk" if the issuer is a county) of (name
of issuer) before the date the governing body has set for the
authorization of the certificates of obligation. Information about
the requirements of the petition may be obtained from the (insert
"secretary or clerk" if the issuer is a municipality, or "county
clerk" if the issuer is a county) of (name of issuer)."[.]
(c) If before the date tentatively set for the authorization
of the issuance of the certificates or if before the authorization,
the municipal secretary or clerk if the issuer is a municipality, or
the county clerk if the issuer is a county, receives a petition
signed by a number of qualified voters of the issuer equal to five
percent or more of the number of votes cast in the municipality or
county, as applicable, in the most recent gubernatorial general
election [at least five percent of the qualified voters of the
issuer] protesting the issuance of the certificates, the issuer may
not authorize the issuance of the certificates unless the issuance
is approved at an election ordered, held, and conducted in the
manner provided for bond elections under Chapter 1251, Government
Code.
(d) This section does not apply to certificates issued for
the purposes described by Sections 271.056(1)-(3)
[271.056(1)-(4)].
(e) An issuer shall maintain an Internet website to comply
with this section.
(f) In this section, "debt obligation" means an issued
public security, as defined by Section 1201.002, Government Code.
SECTION 17. Title 1, Special District Local Laws Code, is
amended by adding Chapter 2 to read as follows:
CHAPTER 2. REVIEW OF CERTAIN SPECIAL DISTRICTS
Sec. 2.001. DEFINITION. In this chapter, "special
district" means a political subdivision of this state that has a
limited geographic area, is created by local law or under general
law for a special purpose, and is authorized to impose a tax,
assessment, or fee. The term does not include a school district or
junior college district.
Sec. 2.002. COMPREHENSIVE REVIEW REQUIRED. At least once
every three years, the governing body of a special district shall
conduct a comprehensive review of the district under this chapter
to determine whether the district should be continued or dissolved.
Sec. 2.003. COMPREHENSIVE SELF-EVALUATION REPORT. (a)
After conducting the review, the governing body must publish a
written self-evaluation report not later than the 30th day before
the date of the public hearing required by Section 2.005.
(b) The self-evaluation report must include:
(1) an identification of the statutory provision
authorizing the special district;
(2) an identification of the mission, goals, and
objectives intended for the special district and an assessment of
the extent to which the mission, goals, and objectives have been
achieved, have failed to be achieved, or are continuing to be
achieved;
(3) an identification of the problem or need that the
special district was created to address and an assessment of the
extent to which the problem or need has been addressed, has failed
to be addressed, or is continuing to be addressed;
(4) an identification of the activities of the special
district that overlap or duplicate those of other governmental
entities;
(5) an identification of each tax, assessment, fee, or
penalty that the special district is authorized to impose or
collect;
(6) a statement of the revenue collected by the
special district and an assessment of whether the revenue exceeds
the amount needed to accomplish the mission, goals, and objectives
of the district;
(7) an identification of the special district's
financial liabilities, including bonds and other obligations; and
(8) a determination of whether the special district
should be continued or dissolved.
(c) The governing body must make the self-evaluation report
available for inspection by any person. The governing body must
take action to ensure that the self-evaluation report is posted
continuously on the special district's Internet website.
Sec. 2.004. NOTICE OF HEARING. (a) Not earlier than the
30th day or later than the 15th day before the date of the hearing
required by Section 2.005, the governing body of the special
district must publish notice of the hearing in at least one
newspaper of general circulation in the county in which the
district is located and on the district's Internet website. The
notice on the website must remain posted until the conclusion of the
hearing.
(b) The notice must contain a statement in the following
form:
"NOTICE OF PUBLIC MEETING TO DISCUSS THE CONTINUATION OF THE
(INSERT NAME OF SPECIAL DISTRICT)
"The (insert name of the district) was created in (insert
year) to (insert purpose for district's creation). The district
imposes a (insert type of tax, assessment, or fee, as appropriate,
and the appropriate rate or amount). State law requires the
district to hold a hearing at least every three years to determine
whether the district should be continued or dissolved. The hearing
will be held on (insert date) at (insert time) at (insert location).
A copy of the district's self-evaluation report is available at
(insert the physical address of the district's main office, or the
physical address of the main office of another local political
subdivision if the district does not maintain an office, and the
district's website address where the self-evaluation report is
posted)."
Sec. 2.005. PUBLIC HEARING. (a) The governing body of a
special district must conduct a public hearing at which persons
interested in the continuation or dissolution of the district are
given the opportunity to be heard.
(b) At the conclusion of the hearing, the governing body
must vote on the question of whether the special district should be
continued or dissolved. If the governing body votes to dissolve the
district, the governing body shall take action to dissolve the
district.
(c) Not later than the 10th day after the date of the public
hearing, the governing body must post on the special district's
Internet website:
(1) the minutes of the hearing;
(2) the estimated number of members of the public in
attendance at the hearing; and
(3) the number of witnesses testifying at the hearing.
Sec. 2.006. INTERNET WEBSITE. A special district shall
maintain an Internet website to comply with this chapter.
SECTION 18. The heading to Section 26.16, Tax Code, is
amended to read as follows:
Sec. 26.16. REPORTING OF TAX RATES AND POSTING OF [TAX]
RATES ON COUNTY'S INTERNET WEBSITE.
SECTION 19. Section 26.16, Tax Code, is amended by amending
Subsections (a), (b), and (e) and adding Subsection (f) to read as
follows:
(a) The county assessor-collector for each county,
including those that do not participate in the assessment or
collection of property taxes, shall maintain [that maintains] an
Internet website. The county assessor-collector shall post on the
website [of the county] the following information for the most
recent five tax years beginning with the 2012 tax year for each
taxing unit all or part of the territory of which is located in the
county:
(1) the adopted tax rate;
(2) the maintenance and operations rate;
(3) the debt rate;
(4) the effective tax rate;
(5) the effective maintenance and operations rate; and
(6) the rollback tax rate.
(b) Each taxing unit [all or part of the territory of which
is located in the county] shall annually provide the information
described by Subsection (a) pertaining to the taxing unit to the
county assessor-collector of each county in which all or part of the
unit's territory is located [annually] following the adoption of a
tax rate by the taxing unit for the current tax year. The chief
appraiser of the appraisal district established in the county may
assist the county assessor-collector in identifying the taxing
units required to provide information to the assessor-collector.
(e) The county assessor-collector for each county shall
report the tax rate information described by Subsection (a) for the
current tax year to the comptroller.
(f) The comptroller by rule shall prescribe the time and
manner in which the information described by this section is
required to be reported and published [presented].
SECTION 20. Section 140.006, Local Government Code, is
repealed.
SECTION 21. (a) Section 46.103, Education Code, as added by
this Act, applies only to school district construction or
renovation projects that are in progress on or are initiated on or
after the effective date of this Act. A school district is not
required to post information regarding projects that are completed
on or before the effective date of this Act.
(b) Sections 1251.052 and 1251.053, Government Code, as
added by this Act, apply only to a bond election ordered on or after
the effective date of this Act. A bond election ordered before the
effective date of this Act is governed by the law in effect when the
bond election was ordered, and the former law is continued in effect
for that purpose.
(c) Not later than January 1, 2014, the secretary of state
shall make available on the secretary of state's Internet website a
form of the ballot described by Section 1251.054, Government Code,
as added by this Act.
(d) The governing body of a school district or junior
college district required to publish an annual financial statement
under former Section 140.006, Local Government Code, shall publish
an annual financial statement for the last fiscal year ending
before the effective date of this Act for which the district has not
published an annual financial statement.
(e) Section 140.008, Local Government Code, as added by this
Act, applies only to an annual financial report for a fiscal year
ending on or after the effective date of this Act. An annual
financial report for a fiscal year ending before the effective date
of this Act is governed by the law in effect when the fiscal year
ended, and the former law is continued in effect for that purpose.
(f) The changes in law made by this Act to Section 271.049,
Local Government Code, apply only to a certificate of obligation
for which the first notice of intention to issue the certificate is
made on or after the effective date of this Act. A certificate of
obligation for which the first notice of intention to issue the
certificate is made before the effective date of this Act is
governed by the law in effect when the notice of intention is made,
and the former law is continued in effect for that purpose.
(g) The governing body of a special district to which
Chapter 2, Special District Local Laws Code, as added by this Act,
applies must conclude the first comprehensive review cycle required
by that chapter not later than September 1, 2014.
SECTION 22. This Act takes effect September 1, 2013.