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.