83R7636 MMC-F
By: Hegar S.B. No. 454
A BILL TO BE ENTITLED
AN ACT
relating to the authority of certain conservation and reclamation
districts to file an annual financial report with the executive
director of the Texas Commission on Environmental Quality in lieu
of filing an annual audit report.
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
during the fiscal period; and
(3) the district's cash and temporary investments were
not in excess of $750,000 [$250,000] during the fiscal period.
SECTION 2. Section 49.198(a), Water Code, as amended by
this Act, applies only to a district that is required to file an
annual audit report or annual financial report on or after the
effective date of this Act. A district that is required to file an
annual audit report or annual financial report before the effective
date of this Act is governed by the law in effect on the date the
report is required to be 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, 2013.