Texas 2017 - 85th Regular

Texas Senate Bill SB387 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	85R4428 TJB-D
2	2	By: Burton S.B. No. 387
3	3
4	4
5	5	A BILL TO BE ENTITLED
6	6	AN ACT
7	7	relating to the use of certain unspent bond proceeds and voter
8	8	approval of certain political subdivision actions, including the
9	9	issuance of certain bonds and the use of certain unspent bond
10	10	proceeds.
11	11	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
12	12	SECTION 1. Section 52.072(e), Election Code, is amended to
13	13	read as follows:
14	14	(e) In addition to any other requirement imposed by law for
15	15	a proposition, including a provision prescribing the proposition
16	16	language, a proposition submitted to the voters by a political
17	17	subdivision for approval of the issuance of bonds or the
18	18	imposition, increase, or reduction of a tax shall specifically
19	19	state, as applicable:
20	20	(1) with respect to a proposition seeking voter
21	21	approval of the issuance of bonds:
22	22	(A) the total principal amount of the bonds to be
23	23	authorized, if approved; and
24	24	(B) each specific purpose [a general description
25	25	of the purposes] for which the bonds are to be authorized, if
26	26	approved;
27	27	(2) with respect to a proposition that only seeks
28	28	voter approval of the imposition or increase of a tax, the amount of
29	29	or maximum tax rate of the tax or tax increase for which approval is
30	30	sought; or
31	31	(3) with respect to a proposition that only seeks
32	32	voter approval of the reduction of a tax, the amount of tax rate
33	33	reduction or the tax rate for which approval is sought.
34	34	SECTION 2. Subtitle C, Title 9, Government Code, is amended
35	35	by adding Chapter 1253 to read as follows:
36	36	CHAPTER 1253. USE OF BOND PROCEEDS BY POLITICAL SUBDIVISIONS FOR
37	37	OTHER PURPOSES
38	38	Sec. 1253.001. DEFINITION. In this chapter, "political
39	39	subdivision" means a county, municipality, school district, junior
40	40	college district, other special district, or other subdivision of
41	41	state government.
42	42	Sec. 1253.002. USE OF UNSPENT GENERAL OBLIGATION BOND
43	43	PROCEEDS. A political subdivision may use the unspent proceeds of
44	44	issued general obligation bonds only:
45	45	(1) for the specific purpose for which the bonds were
46	46	issued;
47	47	(2) to retire the bonds; or
48	48	(3) for a purpose other than the specific purpose for
49	49	which the bonds were issued if:
50	50	(A) the specific purpose is accomplished or
51	51	abandoned; and
52	52	(B) a majority of the votes cast in an election
53	53	held in the political subdivision approve the use of the proceeds
54	54	for the proposed purpose.
55	55	Sec. 1253.003. ELECTION PROCEDURES. (a) The election
56	56	order and the notice of election for an election authorized to be
57	57	held under Section 1253.002 must state the proposed purpose for
58	58	which the bond proceeds are to be used.
59	59	(b) A political subdivision must hold the election in the
60	60	same manner as an election to issue bonds in the political
61	61	subdivision.
62	62	SECTION 3. Chapter 1332, Government Code, is repealed.
63	63	SECTION 4. Section 52.072(e), Election Code, as amended by
64	64	this Act, applies only to an election ordered on or after the
65	65	effective date of this Act. An election ordered before the
66	66	effective date of this Act is governed by the law in effect when the
67	67	election was ordered.
68	68	SECTION 5. This Act takes effect January 1, 2018.