Bill Text: TX HB4086 | 2019-2020 | 86th Legislature | Introduced
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Relating to the definition of "closing" for purposes of certain private activity bonds.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Engrossed - Dead) 2019-05-14 - Referred to Finance [HB4086 Detail]
Download: Texas-2019-HB4086-Introduced.html
Bill Title: Relating to the definition of "closing" for purposes of certain private activity bonds.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Engrossed - Dead) 2019-05-14 - Referred to Finance [HB4086 Detail]
Download: Texas-2019-HB4086-Introduced.html
| 86R14643 SRA-D | ||
| By: Sanford | H.B. No. 4086 | |
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| relating to the definition of "closing" for purposes of certain | ||
| private activity bonds. | ||
| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
| SECTION 1. Section 1372.001(3), Government Code, is amended | ||
| to read as follows: | ||
| (3) "Closing" means the issuance and delivery of a | ||
| bond by an issuer in exchange for a partial [ |
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| which may not be less than 10 percent of the required payment for | ||
| the bond. The term does not include a delivery of a bond if | ||
| expenditure of the proceeds of the bond is conditioned on obtaining | ||
| credit enhancement in support of the bond. | ||
| SECTION 2. This Act takes effect September 1, 2019. | ||
