Texas Senate Bill SB1482

Texas 2013 - 83rd Regular

Caption

Relating to the issuance of a public security by certain special districts.

Impact

The impact of SB 1482 could facilitate better financial management for special districts, which play vital roles in addressing local infrastructure needs, such as water supply, sewage, and other governmental functions. By enabling these districts to issue public securities more efficiently, the legislation is expected to enhance their financial flexibility and responsiveness to community needs. This could lead to improved public services and infrastructure development in various areas governed by these special districts.

Summary

Senate Bill 1482 amends the Government Code regarding the issuance of public securities by specific special districts. This amendment clarifies the prevailing legal provisions, stating that in the event of a conflict between this new section and certain provisions of the Water Code, the newly added subsection will take precedence. This adjustment is aimed at streamlining the process by which special districts can issue public securities, potentially enhancing their financial operations and project funding capabilities.

Contention

While the details of the debate surrounding SB 1482 are not extensively documented, the nature of legislation affecting financial mechanisms typically raises discussions about fiscal responsibility and accountability. Some stakeholders might argue that increasing the ability of special districts to issue public securities could lead to excessive debt accumulation if not properly regulated. Ensuring transparency and proper oversight in how these public securities are utilized will likely be important points of contention among lawmakers and the public alike.