| 1 | 1 | | 84R1735 TJB-D |
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| 2 | 2 | | By: Shaheen H.B. No. 1182 |
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| 3 | 3 | | |
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| 4 | 4 | | |
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| 5 | 5 | | A BILL TO BE ENTITLED |
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| 6 | 6 | | AN ACT |
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| 7 | 7 | | relating to ballot propositions authorizing political subdivisions |
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| 8 | 8 | | to issue bonds. |
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| 9 | 9 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 10 | 10 | | SECTION 1. Chapter 1251, Government Code, is amended by |
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| 11 | 11 | | designating Sections 1251.001, 1251.002, 1251.003, 1251.004, |
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| 12 | 12 | | 1251.005, and 1251.006 as Subchapter A and adding a subchapter |
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| 13 | 13 | | heading to read as follows: |
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| 14 | 14 | | SUBCHAPTER A. BOND ELECTION REQUIREMENTS FOR COUNTIES AND |
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| 15 | 15 | | MUNICIPALITIES |
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| 16 | 16 | | SECTION 2. Chapter 1251, Government Code, is amended by |
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| 17 | 17 | | adding Subchapter B to read as follows: |
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| 18 | 18 | | SUBCHAPTER B. BOND ELECTION BALLOTS |
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| 19 | 19 | | Sec. 1251.051. DEFINITIONS. In this subchapter: |
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| 20 | 20 | | (1) "Debt obligation" means an issued public security, |
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| 21 | 21 | | as defined by Section 1201.002. |
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| 22 | 22 | | (2) "Political subdivision" means a county, |
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| 23 | 23 | | municipality, school district, junior college district, other |
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| 24 | 24 | | special district, or other subdivision of state government. |
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| 25 | 25 | | Sec. 1251.052. CONTENTS OF BALLOT PROPOSITION. (a) The |
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| 26 | 26 | | proposition submitted for an election to authorize a political |
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| 27 | 27 | | subdivision to issue bonds must distinctly state: |
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| 28 | 28 | | (1) the then-current combined principal and interest |
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| 29 | 29 | | required to pay all outstanding debt obligations of the political |
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| 30 | 30 | | subdivision on time and in full; |
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| 31 | 31 | | (2) the estimated combined principal and interest |
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| 32 | 32 | | required to pay the bonds to be authorized on time and in full; and |
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| 33 | 33 | | (3) if the bonds are supported by property taxes, the |
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| 34 | 34 | | annual increase in property taxes attributable to the bonds to be |
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| 35 | 35 | | issued that each homeowner of an average-priced home within the |
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| 36 | 36 | | political subdivision may be required to pay. |
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| 37 | 37 | | (b) The requirements for a proposition prescribed by this |
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| 38 | 38 | | section are in addition to any other requirements prescribed by |
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| 39 | 39 | | law. To the extent of a conflict between this section and Section |
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| 40 | 40 | | 52.072, Election Code, this section controls. |
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| 41 | 41 | | Sec. 1251.053. ONLINE SAMPLE BALLOT. A sample of the ballot |
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| 42 | 42 | | printed for an election to authorize a political subdivision to |
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| 43 | 43 | | issue bonds must be posted on the political subdivision's Internet |
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| 44 | 44 | | website, if the political subdivision maintains a website, as soon |
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| 45 | 45 | | as practicable after the official ballots have been prepared and |
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| 46 | 46 | | must remain posted until the day following the election. |
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| 47 | 47 | | Sec. 1251.054. FORM OF BALLOT. The secretary of state shall |
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| 48 | 48 | | prescribe a form of the ballot for an election held under this |
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| 49 | 49 | | subchapter. A political subdivision is not required to use the |
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| 50 | 50 | | form. |
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| 51 | 51 | | SECTION 3. (a) Sections 1251.052 and 1251.053, Government |
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| 52 | 52 | | Code, as added by this Act, apply only to a bond election ordered on |
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| 53 | 53 | | or after January 1, 2016. A bond election ordered before January 1, |
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| 54 | 54 | | 2016, is governed by the law in effect when the bond election was |
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| 55 | 55 | | ordered, and the former law is continued in effect for that purpose. |
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| 56 | 56 | | (b) Not later than December 1, 2015, the secretary of state |
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| 57 | 57 | | shall make available on the secretary of state's Internet website a |
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| 58 | 58 | | form of the ballot described by Section 1251.054, Government Code, |
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| 59 | 59 | | as added by this Act. |
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| 60 | 60 | | SECTION 4. This Act takes effect September 1, 2015. |
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