| Old | New | Differences | |
|---|---|---|---|
| 1 | 1 | By: Wray H.B. No. 3918 | |
| 2 | 2 | ||
| 3 | 3 | ||
| 4 | 4 | A BILL TO BE ENTITLED | |
| 5 | 5 | AN ACT | |
| 6 | 6 | relating to private activity bonds. | |
| 7 | 7 | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | |
| 8 | 8 | SECTION 1. Subchapter A, Chapter 1372, Government Code is | |
| 9 | 9 | amended by adding Section 1372.007 as follows: | |
| 10 | 10 | Sec. 1372.007. PROHIBITED USE OF BONDS. Notwithstanding | |
| 11 | 11 | any other provision of this chapter, no bonds may be issued to | |
| 12 | 12 | finance, in whole or in part, the construction or operation of an | |
| 13 | 13 | electric railway as defined by Section 131.011 Transportation Code | |
| 14 | 14 | or high speed rail as defined by Section 111.103(a) Transportation | |
| 15 | 15 | Code, that is capable of operating at speeds greater than 100 miles | |
| 16 | 16 | per hour, between two municipalities in this state. | |
| 17 | 17 | SECTION 2. This Act takes effect immediately if it receives | |
| 18 | 18 | a vote of two-thirds of all the members elected to each house, as | |
| 19 | 19 | provided by Section 39, Article III, Texas Constitution. If this | |
| 20 | 20 | Act does not receive the vote necessary for immediate effect, this | |
| 21 | 21 | Act takes effect September 1, 2015. |