Bill Text: TX HB3778 | 2013-2014 | 83rd Legislature | Introduced
Bill Title: Relating to requiring state approval of bonds issued by housing finance corporations.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2013-03-21 - Referred to Urban Affairs [HB3778 Detail]
Download: Texas-2013-HB3778-Introduced.html
| 83R10723 JAM-D | ||
| By: Isaac | H.B. No. 3778 | |
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| relating to requiring state approval of bonds issued by housing | ||
| finance corporations. | ||
| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
| SECTION 1. Subchapter E, Chapter 394, Local Government | ||
| Code, is amended by adding Section 394.058 to read as follows: | ||
| Sec. 394.058. APPROVAL OF BONDS BY BOND REVIEW BOARD. | ||
| Notwithstanding any other law, a bond may not be issued under this | ||
| chapter unless approved by the Bond Review Board. | ||
| SECTION 2. Chapter 1231, Government Code, is amended by | ||
| adding Subchapter C-1 to read as follows: | ||
| SUBCHAPTER C-1. BOARD APPROVAL OF ISSUANCE OF CERTAIN LOCAL | ||
| SECURITIES | ||
| Sec. 1231.051. APPROVAL OF ISSUANCE. The board shall | ||
| approve the issuance of a security issued under Subchapter E, | ||
| Chapter 394, Local Government Code, if, after examining the | ||
| application and documents or items of information required by the | ||
| board, the board determines that the issuance is advisable. | ||
| SECTION 3. This Act takes effect September 1, 2013. | ||
