Honorable Frank Madla, Chair, Senate Committee on Intergovernmental Relations
FROM:
John Keel, Director, Legislative Budget Board
IN RE:
SB212 by Lindsay (Relating to the order calling bond elections for certain metropolitan rapid transit authorities.), As Introduced
No fiscal implication to the State is anticipated.
The bill would amend Section 451.352, Transportation Code, to require a metropolitan rapid transit authority in a municipality with a population of more than 1.2 million to list within an order for a bond election certain information about the bonds, revenue source, type of project, and location of each project to be constructed. The bill would take effect September 1, 2003 and would apply only to orders calling for a bond election issued on or after that date.
Local Government Impact
No fiscal implication to units of local government is anticipated.