| 1 | 1 | | 89R15404 RDR-F |
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| 2 | 2 | | By: Troxclair H.B. No. 3643 |
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| 3 | 3 | | |
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| 4 | 4 | | |
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| 5 | 5 | | |
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| 6 | 6 | | |
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| 7 | 7 | | A BILL TO BE ENTITLED |
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| 8 | 8 | | AN ACT |
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| 9 | 9 | | relating to the withdrawal of a unit of election from certain |
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| 10 | 10 | | metropolitan rapid transit authorities and the net financial |
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| 11 | 11 | | obligation of that withdrawal. |
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| 12 | 12 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 13 | 13 | | SECTION 1. Section 451.603(c), Transportation Code, is |
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| 14 | 14 | | amended to read as follows: |
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| 15 | 15 | | (c) An election to withdraw may not be held [ordered, and a |
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| 16 | 16 | | petition for an election to withdraw may not be accepted for filing, |
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| 17 | 17 | | on or] before the second [fifth] anniversary of the first day of the |
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| 18 | 18 | | calendar month in which a [after the date of a] previous election to |
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| 19 | 19 | | withdraw [in] the unit of election [to withdraw] from the authority |
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| 20 | 20 | | was held. |
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| 21 | 21 | | SECTION 2. Section 451.611, Transportation Code, is amended |
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| 22 | 22 | | by amending Subsection (a) and adding Subsections (c-1) and (e) to |
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| 23 | 23 | | read as follows: |
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| 24 | 24 | | (a) Except as provided by Subsection (c-1), the [The] net |
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| 25 | 25 | | financial obligation of a withdrawn unit of election to the |
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| 26 | 26 | | authority is an amount equal to: |
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| 27 | 27 | | (1) the gross financial obligations of the unit, which |
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| 28 | 28 | | is the sum of: |
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| 29 | 29 | | (A) the unit's apportioned share of the |
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| 30 | 30 | | authority's outstanding obligations; and |
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| 31 | 31 | | (B) the amount, not computed in Subdivision |
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| 32 | 32 | | (1)(A), that is necessary and appropriate to allocate to the unit |
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| 33 | 33 | | because of financial obligations of the authority that specifically |
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| 34 | 34 | | relate to the unit; minus |
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| 35 | 35 | | (2) the unit's apportioned share of the unencumbered |
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| 36 | 36 | | assets of the authority that consist of cash, cash deposits, |
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| 37 | 37 | | certificates of deposit, and bonds, stocks, and other negotiable |
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| 38 | 38 | | securities. |
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| 39 | 39 | | (c-1) This subsection applies only to a withdrawn unit of |
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| 40 | 40 | | election that has a total number of inhabitants equal to two percent |
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| 41 | 41 | | or less of the total number of inhabitants of the authority, |
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| 42 | 42 | | including the number of inhabitants of the unit. The net financial |
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| 43 | 43 | | obligation of a withdrawn unit of election to which this subsection |
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| 44 | 44 | | applies is the fair market value of the authority's property that |
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| 45 | 45 | | will remain in the unit after the unit's withdrawal. |
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| 46 | 46 | | (e) An authority shall annually make a good faith estimate |
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| 47 | 47 | | of each unit of election's net financial obligation and shall |
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| 48 | 48 | | report that estimate to the unit of election not later than July 1 |
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| 49 | 49 | | of each year. |
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| 50 | 50 | | SECTION 3. This Act takes effect immediately if it receives |
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| 51 | 51 | | a vote of two-thirds of all the members elected to each house, as |
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| 52 | 52 | | provided by Section 39, Article III, Texas Constitution. If this |
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| 53 | 53 | | Act does not receive the vote necessary for immediate effect, this |
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| 54 | 54 | | Act takes effect September 1, 2025. |
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