Bill Text: TX HB1182 | 2015-2016 | 84th Legislature | Introduced
Bill Title: Relating to ballot propositions authorizing political subdivisions to issue bonds.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2015-05-04 - Committee report sent to Calendars [HB1182 Detail]
Download: Texas-2015-HB1182-Introduced.html
| 84R1735 TJB-D | ||
| By: Shaheen | H.B. No. 1182 | |
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| relating to ballot propositions authorizing political subdivisions | ||
| to issue bonds. | ||
| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
| SECTION 1. Chapter 1251, Government Code, is amended by | ||
| designating Sections 1251.001, 1251.002, 1251.003, 1251.004, | ||
| 1251.005, and 1251.006 as Subchapter A and adding a subchapter | ||
| heading to read as follows: | ||
| SUBCHAPTER A. BOND ELECTION REQUIREMENTS FOR COUNTIES AND | ||
| MUNICIPALITIES | ||
| SECTION 2. Chapter 1251, Government Code, is amended by | ||
| adding Subchapter B to read as follows: | ||
| SUBCHAPTER B. BOND ELECTION BALLOTS | ||
| Sec. 1251.051. DEFINITIONS. In this subchapter: | ||
| (1) "Debt obligation" means an issued public security, | ||
| as defined by Section 1201.002. | ||
| (2) "Political subdivision" means a county, | ||
| municipality, school district, junior college district, other | ||
| special district, or other subdivision of state government. | ||
| Sec. 1251.052. CONTENTS OF BALLOT PROPOSITION. (a) The | ||
| proposition submitted for an election to authorize a political | ||
| subdivision to issue bonds must distinctly state: | ||
| (1) the then-current combined principal and interest | ||
| required to pay all outstanding debt obligations of the political | ||
| subdivision on time and in full; | ||
| (2) the estimated combined principal and interest | ||
| required to pay the bonds to be authorized on time and in full; and | ||
| (3) if the bonds are supported by property taxes, the | ||
| annual increase in property taxes attributable to the bonds to be | ||
| issued that each homeowner of an average-priced home within the | ||
| political subdivision may be required to pay. | ||
| (b) The requirements for a proposition prescribed by this | ||
| section are in addition to any other requirements prescribed by | ||
| law. To the extent of a conflict between this section and Section | ||
| 52.072, Election Code, this section controls. | ||
| Sec. 1251.053. ONLINE SAMPLE BALLOT. A sample of the ballot | ||
| printed for an election to authorize a political subdivision to | ||
| issue bonds must be posted on the political subdivision's Internet | ||
| website, if the political subdivision maintains a website, as soon | ||
| as practicable after the official ballots have been prepared and | ||
| must remain posted until the day following the election. | ||
| Sec. 1251.054. FORM OF BALLOT. The secretary of state shall | ||
| prescribe a form of the ballot for an election held under this | ||
| subchapter. A political subdivision is not required to use the | ||
| form. | ||
| SECTION 3. (a) Sections 1251.052 and 1251.053, Government | ||
| Code, as added by this Act, apply only to a bond election ordered on | ||
| or after January 1, 2016. A bond election ordered before January 1, | ||
| 2016, is governed by the law in effect when the bond election was | ||
| ordered, and the former law is continued in effect for that purpose. | ||
| (b) Not later than December 1, 2015, the secretary of state | ||
| shall make available on the secretary of state's Internet website a | ||
| form of the ballot described by Section 1251.054, Government Code, | ||
| as added by this Act. | ||
| SECTION 4. This Act takes effect September 1, 2015. | ||
