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| 4 | 4 | | |
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| 5 | 5 | | A BILL TO BE ENTITLED |
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| 6 | 6 | | AN ACT |
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| 7 | 7 | | relating to the procedure by which a taxing unit is required to |
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| 8 | 8 | | provide public notice of certain ad valorem tax-related |
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| 9 | 9 | | information. |
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| 10 | 10 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 11 | 11 | | SECTION 1. Section 26.04(e), Tax Code, is amended to read as |
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| 12 | 12 | | follows: |
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| 13 | 13 | | (e) By August 7 or as soon thereafter as practicable, the |
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| 14 | 14 | | designated officer or employee shall submit the rates to the |
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| 15 | 15 | | governing body. The designated officer or employee shall publish |
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| 16 | 16 | | in a newspaper and post prominently on the home page of the taxing |
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| 17 | 17 | | unit's Internet website in the form prescribed by the comptroller: |
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| 18 | 18 | | (1) the no-new-revenue tax rate, the voter-approval |
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| 19 | 19 | | tax rate, and an explanation of how they were calculated; |
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| 20 | 20 | | (2) the estimated amount of interest and sinking fund |
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| 21 | 21 | | balances and the estimated amount of maintenance and operation or |
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| 22 | 22 | | general fund balances remaining at the end of the current fiscal |
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| 23 | 23 | | year that are not encumbered with or by corresponding existing debt |
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| 24 | 24 | | obligation; and |
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| 25 | 25 | | (3) a schedule of the taxing unit's debt obligations |
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| 26 | 26 | | showing: |
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| 27 | 27 | | (A) the amount of principal and interest that |
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| 28 | 28 | | will be paid to service the taxing unit's debts in the next year |
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| 29 | 29 | | from property tax revenue, including payments of lawfully incurred |
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| 30 | 30 | | contractual obligations providing security for the payment of the |
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| 31 | 31 | | principal of and interest on bonds and other evidences of |
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| 32 | 32 | | indebtedness issued on behalf of the taxing unit by another |
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| 33 | 33 | | political subdivision and, if the taxing unit is created under |
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| 34 | 34 | | Section 52, Article III, or Section 59, Article XVI, Texas |
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| 35 | 35 | | Constitution, payments on debts that the taxing unit anticipates to |
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| 36 | 36 | | incur in the next calendar year; |
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| 37 | 37 | | (B) the amount by which taxes imposed for debt |
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| 38 | 38 | | are to be increased because of the taxing unit's anticipated |
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| 39 | 39 | | collection rate; and |
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| 40 | 40 | | (C) the total of the amounts listed in Paragraphs |
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| 41 | 41 | | (A)-(B), less any amount collected in excess of the previous year's |
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| 42 | 42 | | anticipated collections certified as provided in Subsection (b). |
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| 43 | 43 | | SECTION 2. The change in law made by this Act applies only |
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| 44 | 44 | | to an ad valorem tax year that begins on or after the effective date |
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| 45 | 45 | | of this Act. |
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| 46 | 46 | | SECTION 3. This Act takes effect January 1, 2022. |
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