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Senate Bill 1361 |
Senate Author: Estes |
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Effective: 8-29-11 |
House Sponsor: Hardcastle |
Previous law authorized a water district to elect to file annual financial reports with the executive director of the Texas Commission on Environmental Quality in lieu of being required to have an annual audit performed at the expense of the district if, among other conditions, the district did not have gross receipts from operations, loans, taxes, or contributions in excess of $100,000 during the fiscal period and the district's cash and temporary investments were not in excess of $100,000 at any time during the fiscal period. Senate Bill 1361 amends the Water Code to increase these threshold amounts from $100,000 to $250,000.