| 1 | 1 | | 87R869 NC-F |
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| 2 | 2 | | By: Bettencourt S.B. No. 1656 |
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| 3 | 3 | | |
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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 requirements for filing an annual financial |
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| 8 | 8 | | statement by a municipality. |
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| 9 | 9 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 10 | 10 | | SECTION 1. Section 103.003(a), Local Government Code, is |
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| 11 | 11 | | amended to read as follows: |
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| 12 | 12 | | (a) The annual financial statement, including the auditor's |
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| 13 | 13 | | opinion on the statement, shall be filed in the office of the |
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| 14 | 14 | | municipal secretary or clerk: |
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| 15 | 15 | | (1) for a municipality with a population of less than |
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| 16 | 16 | | 1.75 million, within 120 [180] days after the last day of the |
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| 17 | 17 | | municipality's fiscal year; and |
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| 18 | 18 | | (2) for a municipality with a population of 1.75 |
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| 19 | 19 | | million or more, within 90 days after the last day of the |
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| 20 | 20 | | municipality's fiscal year. |
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| 21 | 21 | | SECTION 2. The change in law made by this Act to Section |
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| 22 | 22 | | 103.003, Local Government Code, applies only to the filing of a |
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| 23 | 23 | | financial statement for a fiscal year ending on or after the |
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| 24 | 24 | | effective date of this Act. |
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| 25 | 25 | | SECTION 3. This Act takes effect immediately if it receives |
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| 26 | 26 | | a vote of two-thirds of all the members elected to each house, as |
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| 27 | 27 | | provided by Section 39, Article III, Texas Constitution. If this |
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| 28 | 28 | | Act does not receive the vote necessary for immediate effect, this |
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| 29 | 29 | | Act takes effect September 1, 2021. |
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