| 2 | | - | (In the Senate - Filed November 14, 2016; January 25, 2017, |
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| 3 | | - | read first time and referred to Committee on State Affairs; |
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| 4 | | - | March 21, 2017, reported favorably by the following vote: Yeas 7, |
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| 5 | | - | Nays 2; March 21, 2017, sent to printer.) |
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| 6 | | - | Click here to see the committee vote |
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| 2 | + | Taylor of Collin |
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| 7 | 3 | | |
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| 8 | 4 | | |
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| 9 | 5 | | A BILL TO BE ENTITLED |
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| 10 | 6 | | AN ACT |
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| 11 | 7 | | relating to voter approval of obligations for certain municipal |
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| 12 | 8 | | liabilities to a public pension fund. |
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| 13 | 9 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 14 | 10 | | SECTION 1. Chapter 107, Local Government Code, is amended |
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| 15 | 11 | | by adding Section 107.0035 to read as follows: |
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| 16 | 12 | | Sec. 107.0035. VOTER APPROVAL REQUIRED FOR PENSION FUND |
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| 17 | 13 | | OBLIGATIONS. A municipality may issue an obligation under Section |
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| 18 | 14 | | 107.003 only if the issuance is approved by a majority of the |
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| 19 | 15 | | qualified voters of the municipality voting at an election held for |
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| 20 | 16 | | that purpose. |
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| 21 | 17 | | SECTION 2. Section 107.0035, Local Government Code, as |
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| 22 | 18 | | added by this Act, applies only to obligations for which the |
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| 23 | 19 | | governing body of a municipality executes an agreement under |
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| 24 | 20 | | Section 107.003(b), Local Government Code, on or after the |
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| 25 | 21 | | effective date of this Act. |
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| 26 | 22 | | SECTION 3. This Act takes effect immediately if it receives |
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| 27 | 23 | | a vote of two-thirds of all the members elected to each house, as |
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| 28 | 24 | | provided by Section 39, Article III, Texas Constitution. If this |
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| 29 | 25 | | Act does not receive the vote necessary for immediate effect, this |
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| 30 | 26 | | Act takes effect September 1, 2017. |
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