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A BILL TO BE ENTITLED
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AN ACT
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relating to a searchable database for the bonds and other debt |
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obligations issued by local governmental entities. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter B, Chapter 403, Government Code, is |
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amended by adding Section 403.0241 to read as follows: |
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Sec. 403.0241. SEARCHABLE DATABASE FOR BOND AND DEBT |
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OBLIGATIONS OF LOCAL GOVERNMENTAL ENTITIES. (a) The comptroller, |
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in consultation with the Bond Review Board, shall develop and |
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maintain a computerized database that: |
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(1) lists the bond and other debt obligations issued |
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by each local governmental entity granted debt authority by the |
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Texas Constitution; and |
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(2) is searchable by geographic area using a zip code. |
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(b) The comptroller shall make the database described by |
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Subsection (a) available to the public on the comptroller's |
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Internet website. |
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(c) The Bond Review Board shall provide the comptroller with |
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relevant information collected or maintained by the review board on |
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request of the comptroller. |
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(d) Each local governmental entity shall provide to the |
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comptroller, at times required by the comptroller, information that |
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the comptroller determines to be necessary for the database under |
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Subsection (a). |
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SECTION 2. Not later than September 1, 2012, the |
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comptroller of public accounts shall make available on its Internet |
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website the database described by Section 403.0241, Government |
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Code, as added by this Act. |
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SECTION 3. This Act takes effect immediately if it receives |
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a vote of two-thirds of all the members elected to each house, as |
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provided by Section 39, Article III, Texas Constitution. If this |
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Act does not receive the vote necessary for immediate effect, this |
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Act takes effect September 1, 2011. |