Texas 2015 - 84th Regular

Texas House Bill HB134 Compare Versions

Version 1 (Old)

Version 2 (New)

Old	New	Differences
1	1	84R19975 MK-D
2	2	By: Simpson, Laubenberg, et al. H.B. No. 134
3	3	Substitute the following for H.B. No. 134:
4	4	By: Goldman C.S.H.B. No. 134
5	5
6	6
7	7	A BILL TO BE ENTITLED
8	8	AN ACT
9	9	relating to certain information included with ballot propositions
10	10	for elections to authorize state and local general obligation
11	11	bonds.
12	12	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
13	13	SECTION 1. Subchapter A, Chapter 274, Election Code, is
14	14	amended by adding Section 274.004 to read as follows:
15	15	Sec. 274.004. PROPOSITION STATEMENT REGARDING GENERAL
16	16	OBLIGATION BONDS OF THIS STATE. (a) In addition to any other
17	17	wording for a ballot proposition for a proposed constitutional
18	18	amendment to authorize the issuance of general obligation bonds of
19	19	this state, the secretary of state shall require that the
20	20	proposition, both on the ballot and in the proclamation ordering
21	21	the election at which the amendment will be submitted, be
22	22	accompanied by a statement that includes the following amounts,
23	23	with each stated as a total amount and as a per capita amount for the
24	24	then-current population of this state:
25	25	(1) the then-current general obligation debt of this
26	26	state;
27	27	(2) the maximum amount of additional general
28	28	obligation debt of this state that would be authorized by the
29	29	proposed amendment; and
30	30	(3) the maximum estimated cost to repay the general
31	31	obligation debt that would be authorized by the proposed amendment,
32	32	including principal and interest, at a stated likely interest rate.
33	33	(b) For the purposes of the information required by
34	34	Subsection (a), on the request of the secretary of state the Bond
35	35	Review Board shall:
36	36	(1) certify the then-current general obligation debt
37	37	of this state;
38	38	(2) determine a likely interest rate for the proposed
39	39	bonds; and
40	40	(3) compute the estimated maximum repayment cost in
41	41	accordance with the likely interest rate determined under
42	42	Subdivision (2).
43	43	(c) The ballot required by this section must be printed in
44	44	substantially the following format:
45	45	DEBT ITEMS TOTAL PER CAPITA DEBT ITEMS TOTAL PER CAPITA
46	46	DEBT ITEMS TOTAL PER CAPITA
47	47	CURRENT GENERAL CURRENT GENERAL
48	48	CURRENT GENERAL
49	49	OBLIGATION DEBT $ ____ $ ____ OBLIGATION DEBT $ ____ $ ____
50	50	OBLIGATION DEBT $ ____ $ ____
51	51	PROPOSED NEW GENERAL PROPOSED NEW GENERAL
52	52	PROPOSED NEW GENERAL
53	53	OBLIGATION DEBT $ ____ $ ____ OBLIGATION DEBT $ ____ $ ____
54	54	OBLIGATION DEBT $ ____ $ ____
55	55	COST TO REPAY COST TO REPAY
56	56	COST TO REPAY
57	57	ADDITIONAL GENERAL ADDITIONAL GENERAL
58	58	ADDITIONAL GENERAL
59	59	OBLIGATION DEBT OBLIGATION DEBT
60	60	OBLIGATION DEBT
61	61	AT __% INTEREST AT __% INTEREST
62	62	AT __% INTEREST
63	63	OVER __ YEARS $ ____ $ ____ OVER __ YEARS $ ____ $ ____
64	64	OVER __ YEARS $ ____ $ ____
65	65	(d) The statement required by this section must:
66	66	(1) be considered by the secretary of state before the
67	67	secretary certifies the proposed amendment under Section
68	68	274.003(a); and
69	69	(2) be appropriately translated as provided by Section
70	70	274.003(c) for other ballot language.
71	71	SECTION 2. Subtitle C, Title 9, Government Code, is amended
72	72	by adding Chapter 1253 to read as follows:
73	73	CHAPTER 1253. BALLOT INFORMATION FOR ELECTION TO AUTHORIZE LOCAL
74	74	GOVERNMENTAL GENERAL OBLIGATION BONDS
75	75	Sec. 1253.001. DEFINITION. In this chapter, "local
76	76	government" means a political subdivision or special-purpose
77	77	district or authority of this state, including a county,
78	78	municipality, school district, junior college district, hospital
79	79	district, or conservation and reclamation district.
80	80	Sec. 1253.002. BALLOT INFORMATION FOR ELECTION REGARDING
81	81	GENERAL OBLIGATION BONDS. (a) This section applies to a ballot
82	82	printed for an election to authorize a local government to issue
83	83	general obligation bonds.
84	84	(b) A ballot must include with the ballot proposition a
85	85	statement that includes the following amounts, with each stated as
86	86	a total amount and as a per capita amount for the then-current
87	87	population of the local government:
88	88	(1) the then-current general obligation debt of the
89	89	local government;
90	90	(2) the maximum amount of additional general
91	91	obligation debt of the local government that would be authorized if
92	92	the proposition is passed; and
93	93	(3) the maximum estimated cost to repay the general
94	94	obligation debt that would be authorized by the proposed amendment,
95	95	including principal and interest, at a stated likely interest rate.
96	96	(c) The ballot required by this section must be printed in
97	97	substantially the following format:
98	98	DEBT ITEMS TOTAL PER CAPITA DEBT ITEMS TOTAL PER CAPITA
99	99	DEBT ITEMS TOTAL PER CAPITA
100	100	CURRENT GENERAL CURRENT GENERAL
101	101	CURRENT GENERAL
102	102	OBLIGATION DEBT $ ____ $ ____ OBLIGATION DEBT $ ____ $ ____
103	103	OBLIGATION DEBT $ ____ $ ____
104	104	PROPOSED NEW GENERAL PROPOSED NEW GENERAL
105	105	PROPOSED NEW GENERAL
106	106	OBLIGATION DEBT $ ____ $ ____ OBLIGATION DEBT $ ____ $ ____
107	107	OBLIGATION DEBT $ ____ $ ____
108	108	COST TO REPAY COST TO REPAY
109	109	COST TO REPAY
110	110	ADDITIONAL GENERAL ADDITIONAL GENERAL
111	111	ADDITIONAL GENERAL
112	112	OBLIGATION DEBT OBLIGATION DEBT
113	113	OBLIGATION DEBT
114	114	AT __% INTEREST AT __% INTEREST
115	115	AT __% INTEREST
116	116	OVER __ YEARS $ ____ $ ____ OVER __ YEARS $ ____ $ ____
117	117	OVER __ YEARS $ ____ $ ____
118	118	Sec. 1253.003. DETERMINATION OF BALLOT INFORMATION. For
119	119	the purposes of the information required by Section 1253.002(b),
120	120	the treasurer of the local government, or another person as
121	121	determined by the governing body of the local government, shall:
122	122	(1) certify the then-current general obligation debt
123	123	of the local government;
124	124	(2) determine a likely interest rate for the proposed
125	125	bonds; and
126	126	(3) compute the estimated maximum repayment cost in
127	127	accordance with the likely interest rate determined under
128	128	Subdivision (2).
129	129	SECTION 3. Section 274.004, Election Code, as added by this
130	130	Act, and Chapter 1253, Government Code, as added by this Act, apply
131	131	only to a ballot proposition for an election held on or after
132	132	November 1, 2016.
133	133	SECTION 4. This Act takes effect September 1, 2015.
134	134
135	135
136	136
137	137	DEBT ITEMS TOTAL PER CAPITA
138	138
139	139
140	140
141	141	CURRENT GENERAL
142	142
143	143	OBLIGATION DEBT $ ____ $ ____
144	144
145	145
146	146
147	147	PROPOSED NEW GENERAL
148	148
149	149	OBLIGATION DEBT $ ____ $ ____
150	150
151	151
152	152
153	153	COST TO REPAY
154	154
155	155	ADDITIONAL GENERAL
156	156
157	157	OBLIGATION DEBT
158	158
159	159	AT __% INTEREST
160	160
161	161	OVER __ YEARS $ ____ $ ____
162	162
163	163
164	164
165	165	DEBT ITEMS TOTAL PER CAPITA
166	166
167	167
168	168
169	169	CURRENT GENERAL
170	170
171	171	OBLIGATION DEBT $ ____ $ ____
172	172
173	173
174	174
175	175	PROPOSED NEW GENERAL
176	176
177	177	OBLIGATION DEBT $ ____ $ ____
178	178
179	179
180	180
181	181	COST TO REPAY
182	182
183	183	ADDITIONAL GENERAL
184	184
185	185	OBLIGATION DEBT
186	186
187	187	AT __% INTEREST
188	188
189	189	OVER __ YEARS $ ____ $ ____