BILL ANALYSIS
Senate Research Center H.B. 1730
81R6839 NC-F By: Pitts (Averitt)
AUTHOR'S / SPONSOR'S STATEMENT OF INTENT
Currently, municipalities are authorized to create a special public improvement district with the ability to levy and collect a special assessment in order to fund local projects, such as street and sidewalk improvements; park, recreation, and cultural improvements; landscaping improvements; and mass transit improvements.
H.B. 1730 authorizes the governing body of a municipality or county to issue and sell general obligation bonds or revenue bonds to reimburse a developer for the cost of certain public improvements located in public improvement districts in certain counties.
RULEMAKING AUTHORITY
This bill does not expressly grant any additional rulemaking authority to a state officer, institution, or agency.
SECTION BY SECTION ANALYSIS
SECTION 1. Amends Chapter 372, Local Government Code, by adding Subchapter D, as follows:
SUBCHAPTER D. REIMBURSEMENT FOR PUBLIC IMPROVEMENTS IN CERTAIN COUNTIES
Sec. 372.151. APPLICABILITY. Provides that this subchapter applies only to a county that contains no municipality with a population of more than 50,000 and is adjacent to at least two counties, each with a population of more than one million.
Sec. 372.152. ISSUANCE OF BONDS TO REIMBURSE ACQUIRED PUBLIC IMPROVEMENTS. (a) Authorizes the governing body of a municipality or county to issue and sell general obligation bonds or revenue bonds to reimburse a developer for the cost of a public improvement if the public information is located in a public improvement district created on or after January 1, 2005, the public improvement has been dedicated to and accepted by the municipality or county, and before the public improvement was dedicated to and accepted by the municipality or county, the governing body of the municipality or county entered into an agreement with the developer to pay for the public improvement.
(b) Requires that general obligation bonds or revenue bonds issued under this subchapter comply with the provisions relating to general obligation bonds or revenue bonds issued under Subchapter A (Public Improvement Districts).
SECTION 2. Effective date: upon passage or September 1, 2009.