Bill Text: TX HB3234 | 2023-2024 | 88th Legislature | Introduced
Bill Title: Relating to the withdrawal of a unit of election from certain metropolitan rapid transit authorities.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2023-03-15 - Referred to Transportation [HB3234 Detail]
Download: Texas-2023-HB3234-Introduced.html
88R11525 JRR-F | ||
By: Troxclair | H.B. No. 3234 |
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relating to the withdrawal of a unit of election from certain | ||
metropolitan rapid transit authorities. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Section 451.603(c), Transportation Code, is | ||
amended to read as follows: | ||
(c) An election to withdraw may not be held [ |
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calendar month in which a [ |
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withdraw [ |
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was held. | ||
SECTION 2. Section 451.607(c), Transportation Code, is | ||
amended to read as follows: | ||
(c) At the election the ballot shall be printed to provide | ||
for voting for or against the proposition: "Shall [ |
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unit of election [ |
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(name of authority [ |
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SECTION 3. Section 451.608, Transportation Code, is amended | ||
to read as follows: | ||
Sec. 451.608. RESULT OF WITHDRAWAL ELECTION. (a) If a | ||
majority of the votes received on the measure in an election held | ||
under Section 451.607 favor the proposition, the [ |
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the authority ceases in the unit of election on the day after the | ||
date the election results are canvassed. | ||
(b) If less than a majority of the votes received on the | ||
measure in the election favor the proposition, the authority | ||
continues [ |
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SECTION 4. Section 451.611, Transportation Code, is amended | ||
by amending Subsections (a), (b), and (d) and adding Subsections | ||
(b-1), (e), (f), and (g) to read as follows: | ||
(a) The net financial obligation of a withdrawn unit of | ||
election to the authority is an amount equal to: | ||
(1) the gross financial obligations of the unit, which | ||
is the sum of: | ||
(A) the unit's apportioned share of the | ||
authority's outstanding obligations; and | ||
(B) the amount, not computed in Subdivision | ||
(1)(A), that is necessary and appropriate to allocate to the unit | ||
because of financial obligations of the authority that specifically | ||
relate to the unit; minus | ||
(2) the unit's apportioned share of the unencumbered | ||
assets of the authority that consist of cash, cash deposits, | ||
certificates of deposit, and bonds, stocks, and other negotiable | ||
securities plus a reasonable credit in an amount determined by the | ||
comptroller under Subsection (f) if the comptroller finds a | ||
disparity in transit services provided by the authority to the | ||
unit. | ||
(b) Subject to Subsection (b-1), an [ |
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outstanding obligations under Subsection (a)(1)(A) is the sum of: | ||
(1) the obligations of the authority authorized in the | ||
budget of, and contracted for by, the authority; | ||
(2) outstanding contractual obligations for capital | ||
or other expenditures, including expenditures for a subsequent | ||
year, the payment of which is not made or provided for from the | ||
proceeds of notes, bonds, or other obligations; | ||
(3) payments due or to become due in a subsequent year | ||
on notes, bonds, or other securities or obligations for debt issued | ||
by the authority; | ||
(4) the amount required by the authority to be | ||
reserved for all years to comply with financial covenants made with | ||
lenders, note or bond holders, or other creditors or contractors; | ||
and | ||
(5) the amount necessary for the full and timely | ||
payment of the obligations of the authority, to avoid a default or | ||
impairment of those obligations, including contingent liabilities. | ||
(b-1) An authority's outstanding obligations under | ||
Subsection (a)(1)(A) does not include the authority's outstanding | ||
obligations related to rail service if the authority does not | ||
operate a commuter rail line within the unit of election. | ||
(d) The comptroller [ |
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each component of the computations required under this section, | ||
including the components of the unit's apportioned share, including | ||
any credit for a disparity in transit services provided by the | ||
authority to the unit of election, as of the effective date of | ||
withdrawal. The number of inhabitants shall be determined | ||
according to the most recent and available applicable data of an | ||
agency of the United States. | ||
(e) The authority shall provide all information requested | ||
by the comptroller to determine the amount of each component of the | ||
computations required under this section. The unit of election may | ||
provide information to the comptroller with respect to any | ||
component, including information about any disparity in transit | ||
services provided by the authority to the unit. | ||
(f) The comptroller has discretion to determine a | ||
reasonable credit, if any, for a disparity in transit services | ||
provided by the authority to the unit of election. | ||
(g) An authority shall annually make a good faith estimate | ||
of each unit of election's net financial obligation and shall | ||
report that estimate to each unit of election not later than July 1 | ||
of each year. | ||
SECTION 5. Section 451.612, Transportation Code, is amended | ||
to read as follows: | ||
Sec. 451.612. CERTIFICATION OF NET FINANCIAL OBLIGATION OF | ||
UNIT. (a) If a majority of the votes received on the measure in an | ||
election held under Section 451.607 favor the proposition, the | ||
comptroller [ |
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withdrawn unit of election and to the authority [ |
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net financial obligation of the unit to the authority as determined | ||
under this subchapter. | ||
(b) If a withdrawn unit of election has [ |
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financial obligation [ |
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[ |
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unit and to the authority. | ||
(c) The comptroller shall make each certification required | ||
by this section not later than 180 days after the date an election | ||
is held under Section 451.607. | ||
SECTION 6. This Act takes effect immediately if it receives | ||
a vote of two-thirds of all the members elected to each house, as | ||
provided by Section 39, Article III, Texas Constitution. If this | ||
Act does not receive the vote necessary for immediate effect, this | ||
Act takes effect September 1, 2023. |