84R1735 TJB-D
By: Shaheen H.B. No. 1182
A BILL TO BE ENTITLED
AN ACT
relating to ballot propositions authorizing political subdivisions
to issue bonds.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. 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 subchapter
heading to read as follows:
SUBCHAPTER A. BOND ELECTION REQUIREMENTS FOR COUNTIES AND
MUNICIPALITIES
SECTION 2. Chapter 1251, Government Code, is amended by
adding Subchapter B to read as follows:
SUBCHAPTER B. BOND ELECTION BALLOTS
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) the then-current combined principal and interest
required to pay all outstanding debt obligations of the political
subdivision on time and in full;
(2) the estimated combined principal and interest
required to pay the bonds to be authorized on time and in full; and
(3) if the bonds are supported by property taxes, the
annual increase in property taxes attributable to the bonds to be
issued that each homeowner of an average-priced home within the
political subdivision may be required to pay.
(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, if the political subdivision maintains a 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 3. (a) Sections 1251.052 and 1251.053, Government
Code, as added by this Act, apply only to a bond election ordered on
or after January 1, 2016. A bond election ordered before January 1,
2016, is governed by the law in effect when the bond election was
ordered, and the former law is continued in effect for that purpose.
(b) Not later than December 1, 2015, 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.
SECTION 4. This Act takes effect September 1, 2015.