| 1 | 1 | | By: Stephenson H.B. No. 3408 |
|---|
| 2 | 2 | | |
|---|
| 3 | 3 | | |
|---|
| 4 | 4 | | A BILL TO BE ENTITLED |
|---|
| 5 | 5 | | AN ACT |
|---|
| 6 | 6 | | relating to posting certain municipal financial information on the |
|---|
| 7 | 7 | | Internet. |
|---|
| 8 | 8 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|---|
| 9 | 9 | | SECTION 1. Subtitle A, Title 4, Local Government Code, is |
|---|
| 10 | 10 | | amended by adding Chapter 110 to read as follows: |
|---|
| 11 | 11 | | CHAPTER 110. MISCELLANEOUS FINANCIAL PROVISIONS AFFECTING |
|---|
| 12 | 12 | | MUNICIPALITIES |
|---|
| 13 | 13 | | Sec. 110.001. POSTING OF COMPREHENSIVE ANNUAL FINANCIAL |
|---|
| 14 | 14 | | REPORT ON INTERNET. (a) In this section, "comprehensive annual |
|---|
| 15 | 15 | | financial report" means a written report prepared by or for a |
|---|
| 16 | 16 | | municipality at the end of each fiscal year that provides at a |
|---|
| 17 | 17 | | minimum a detailed accounting of: |
|---|
| 18 | 18 | | (1) all funds received and disbursed by the municipality |
|---|
| 19 | 19 | | during the fiscal year; and |
|---|
| 20 | 20 | | (2) all outstanding debt obligations of the municipality as |
|---|
| 21 | 21 | | of the last day of the fiscal year. |
|---|
| 22 | 22 | | (b) A municipality that maintains an Internet website shall |
|---|
| 23 | 23 | | post the municipality's comprehensive annual financial report on |
|---|
| 24 | 24 | | the website. The municipality must post the report as soon as the |
|---|
| 25 | 25 | | report is available and must maintain the posting at all times until |
|---|
| 26 | 26 | | at least the third anniversary of the date the report is first |
|---|
| 27 | 27 | | posted. |
|---|
| 28 | 28 | | SECTION 1. This Act takes effect January 1, 2016. |
|---|