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A BILL TO BE ENTITLED
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AN ACT
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relating to the procedure by which a taxing unit is required to |
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provide public notice of certain ad valorem tax-related |
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information. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 26.04(e), Tax Code, is amended to read as |
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follows: |
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(e) By August 7 or as soon thereafter as practicable, the |
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designated officer or employee shall submit the rates to the |
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governing body. The designated officer or employee shall publish |
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in a newspaper and post prominently on the home page of the taxing |
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unit's Internet website in the form prescribed by the comptroller: |
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(1) the no-new-revenue tax rate, the voter-approval |
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tax rate, and an explanation of how they were calculated; |
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(2) the estimated amount of interest and sinking fund |
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balances and the estimated amount of maintenance and operation or |
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general fund balances remaining at the end of the current fiscal |
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year that are not encumbered with or by corresponding existing debt |
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obligation; and |
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(3) a schedule of the taxing unit's debt obligations |
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showing: |
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(A) the amount of principal and interest that |
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will be paid to service the taxing unit's debts in the next year |
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from property tax revenue, including payments of lawfully incurred |
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contractual obligations providing security for the payment of the |
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principal of and interest on bonds and other evidences of |
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indebtedness issued on behalf of the taxing unit by another |
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political subdivision and, if the taxing unit is created under |
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Section 52, Article III, or Section 59, Article XVI, Texas |
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Constitution, payments on debts that the taxing unit anticipates to |
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incur in the next calendar year; |
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(B) the amount by which taxes imposed for debt |
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are to be increased because of the taxing unit's anticipated |
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collection rate; and |
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(C) the total of the amounts listed in Paragraphs |
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(A)-(B), less any amount collected in excess of the previous year's |
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anticipated collections certified as provided in Subsection (b). |
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SECTION 2. The change in law made by this Act applies only |
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to an ad valorem tax year that begins on or after the effective date |
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of this Act. |
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SECTION 3. This Act takes effect September 1, 2024. |