By Alexander H.B. No. 1058 A BILL TO BE ENTITLED 1-1 AN ACT 1-2 relating to the publication of truth in taxation notices. 1-3 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-4 SECTION 1. Section 26.04(e), Tax Code, is amended to read as 1-5 follows: 1-6 (e) By August 7 or as soon thereafter as practicable, the 1-7 designated officer or employee shall submit the rates to the 1-8 governing body. He shall deliver by mail to each property owner in 1-9 the unit or publish in a newspaper in the form prescribed by the 1-10 comptroller: 1-11 (1) the effective tax rate, the rollback tax rate, and 1-12 an explanation of how they were calculated; 1-13 (2) the estimated amount of interest and sinking fund 1-14 balances and the estimated amount of maintenance and operation or 1-15 general fund balances remaining at the end of the current fiscal 1-16 year that are not encumbered with or by corresponding existing debt 1-17 obligation, except that for a school district, estimated funds 1-18 necessary for the operation of the district prior to the receipt of 1-19 the first state education aid payment in the succeeding school year 1-20 shall be subtracted from the estimated fund balances; 1-21 (3) a schedule of the unit's debt obligations showing: 1-22 (A) the amount of principal and interest that 1-23 will be paid to service the unit's debts in the next year from 2-1 property tax revenue, including payments of lawfully incurred 2-2 contractual obligations providing security for the payment of the 2-3 principal of and interest on bonds and other evidences of 2-4 indebtedness issued on behalf of the unit by another political 2-5 subdivision; 2-6 (B) the amount by which taxes imposed for debt 2-7 are to be increased because of the unit's anticipated collection 2-8 rate; and 2-9 (C) the total of the amounts listed in 2-10 Paragraphs (A)-(B), less any amount collected in excess of the 2-11 previous year's anticipated collections certified as provided in 2-12 Subsection (b) of this section; and 2-13 (4) the amount of additional sales and use tax revenue 2-14 anticipated in calculations under Section 26.041 of this code. 2-15 SECTION 2. The importance of this legislation and the 2-16 crowded condition of the calendars in both houses create an 2-17 emergency and an imperative public necessity that the 2-18 constitutional rule requiring bills to be read on three several 2-19 days in each house be suspended, and this rule is hereby suspended.