BILL ANALYSIS |
C.S.H.B. 4082 |
By: Goldman |
Pensions, Investments & Financial Services |
Committee Report (Substituted) |
BACKGROUND AND PURPOSE
A constituent raised concerns regarding the purposes for which certificates of obligation or anticipation notes may be authorized by a county or municipality. Current law authorizes the issuance of certificates of obligation and anticipation notes for a public work; however, that term is not defined in statute. C.S.H.B. 4082 addresses this issue by defining what does and does not constitute a public work for purposes of a local government's authority to issue a certificate of obligation or anticipation note.
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CRIMINAL JUSTICE IMPACT
It is the committee's opinion that this bill does not expressly create a criminal offense, increase the punishment for an existing criminal offense or category of offenses, or change the eligibility of a person for community supervision, parole, or mandatory supervision.
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RULEMAKING AUTHORITY
It is the committee's opinion that this bill does not expressly grant any additional rulemaking authority to a state officer, department, agency, or institution.
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ANALYSIS
C.S.H.B. 4082 amends the Local Government Code and the Government Code to categorize any of the following public improvements as authorized by law for an issuer that is a municipality or county as a public work for purposes of both the Certificate of Obligation Act of 1971 and statutory provisions relating to anticipation notes used to pay for certain obligations: · a street, road, highway, bridge, sidewalk, or parking structure; · a landfill; · an airport; · a utility system, water supply project, water treatment plant, wastewater treatment plant, or water or wastewater conveyance facility; · a wharf or dock; · a flood control and drainage project; · a public safety facility, including a police station, fire station, emergency shelter, jail, or juvenile detention facility; · a judicial facility; · an administrative office building housing the governmental functions of the municipality or county; · an animal shelter; · a library; or · a park or recreation facility that is generally accessible to the public and is dedicated as part of the municipal or county park system. The following are expressly not considered a public work for those purposes: · a facility for professional or semi-professional sports; · a stadium, arena, civic center, convention center, or coliseum; or · a hotel.
C.S.H.B. 4082 applies only to a certificate of obligation or an anticipation note issued on or after the bill's effective date.
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EFFECTIVE DATE
September 1, 2023.
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COMPARISON OF INTRODUCED AND SUBSTITUTE
C.S.H.B. 4082 differs from the introduced in minor or nonsubstantive ways by conforming to certain bill drafting conventions.
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