By Lewis of Orange H.B. No. 2994
Line and page numbers may not match official copy.
Bill not drafted by TLC or Senate E&E.
A BILL TO BE ENTITLED
1-1 AN ACT
1-2 relating to the authority of districts to enter into contracts to
1-3 pay taxes.
1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-5 SECTION 1. Section 49.108(e), Water Code, is amended to read
1-6 as follows:
1-7 (e) A district that is required under Section 49.181 to
1-8 obtain approval by the commission of the district's issuance of
1-9 bonds must obtain approval by the executive director before the
1-10 district enters into an obligation under this section to collect
1-11 tax for debt that exceeds three years. This subsection does not
1-12 apply to contract taxes that are levied to pay for a district's
1-13 share of bonds that have been issued by another district and
1-14 approved by the commission[.] or bonds issued by a municipality.
1-15 SECTION 2. This Act takes effect immediately if it receives
1-16 a vote of two-thirds of all the members elected to each house, as
1-17 provided by Section 39, Article III, Texas Constitution. If this
1-18 Act does not receive the vote necessary for immediate effect, this
1-19 Act takes effect September 1, 2001.