Texas 2023 88th Regular

Texas House Bill HB159 Introduced / Bill

Filed 11/14/2022

                    88R1230 TJB-D
 By: Landgraf H.B. No. 159


 A BILL TO BE ENTITLED
 AN ACT
 relating to the procedure by which a taxing unit is required to
 provide public notice of certain ad valorem tax-related
 information.
 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
 SECTION 1.  Section 26.04(e), Tax Code, is amended to read as
 follows:
 (e)  By August 7 or as soon thereafter as practicable, the
 designated officer or employee shall submit the rates to the
 governing body. The designated officer or employee shall publish
 in a newspaper and post prominently on the home page of the taxing
 unit's Internet website in the form prescribed by the comptroller:
 (1)  the no-new-revenue tax rate, the voter-approval
 tax rate, and an explanation of how they were calculated;
 (2)  the estimated amount of interest and sinking fund
 balances and the estimated amount of maintenance and operation or
 general fund balances remaining at the end of the current fiscal
 year that are not encumbered with or by corresponding existing debt
 obligation; and
 (3)  a schedule of the taxing unit's debt obligations
 showing:
 (A)  the amount of principal and interest that
 will be paid to service the taxing unit's debts in the next year
 from property tax revenue, including payments of lawfully incurred
 contractual obligations providing security for the payment of the
 principal of and interest on bonds and other evidences of
 indebtedness issued on behalf of the taxing unit by another
 political subdivision and, if the taxing unit is created under
 Section 52, Article III, or Section 59, Article XVI, Texas
 Constitution, payments on debts that the taxing unit anticipates to
 incur in the next calendar year;
 (B)  the amount by which taxes imposed for debt
 are to be increased because of the taxing unit's anticipated
 collection rate; and
 (C)  the total of the amounts listed in Paragraphs
 (A)-(B), less any amount collected in excess of the previous year's
 anticipated collections certified as provided in Subsection (b).
 SECTION 2.  The change in law made by this Act applies only
 to an ad valorem tax year that begins on or after the effective date
 of this Act.
 SECTION 3.  This Act takes effect September 1, 2024.