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House Bill 4577 |
House Author: Deshotel |
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Effective: 6-4-21 |
Senate Sponsor: Creighton |
House Bill 4577 amends the Special District Local Laws Code to exempt the Chambers County Improvement District No. 1 from a statutory provision that prohibits the board of directors of a district from calling a bond election unless a written petition has been filed with the board requesting an election signed by the owners of a majority of the assessed value of the property subject to assessment or taxation by the district. Such a petition is not required for the board of directors of the district to levy a tax, assessment, or impact fee to finance improvement projects and services. In addition, the bill repeals certain limitations on the amount of bonds payable from a property tax imposed over the entire district that the district may issue, including a provision that caps that amount at the greater of $50 million or 10 percent of the assessed value of the taxable property in the entire district.