82R17834 EAH-D
 
  By: Coleman, Paxton H.B. No. 2944
 
  Substitute the following for H.B. No. 2944:
 
  By:  White C.S.H.B. No. 2944
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to a searchable database for the bonds and other debt
  obligations issued by local governmental entities.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Subchapter B, Chapter 1231, Government Code, is
  amended by adding Section 1231.024 to read as follows:
         Sec. 1231.024.  SEARCHABLE DATABASE FOR BOND AND DEBT
  OBLIGATIONS OF LOCAL GOVERNMENTAL ENTITIES. (a)  The board shall
  develop and maintain a computerized database that:
               (1)  lists the bond and other debt obligations issued
  by each local governmental entity granted debt authority by the
  Texas Constitution; and
               (2)  is searchable by each local governmental entity
  within a zip code.
         (b)  The database must include the:
               (1)  specific debt issued by each local governmental
  entity and the principal, interest, and payments on the debt;
               (2)  total principal, interest, and payments on all
  debt issued by each local governmental entity; and
               (3)  total principal, interest, and payments on all
  debt issued by local governmental entities in each zip code.
         (c)  The board shall make the database described by
  Subsection (a) available to the public on the board's Internet
  website.
         (d)  The comptroller shall provide on the comptroller's
  Internet website a link to the database made available by the board
  under Subsection (c).
         (e)  Each local governmental entity shall provide to the
  board, at times required by the board, information that the board
  determines to be necessary for the database under Subsection (a).
         SECTION 2.  Not later than September 1, 2012, the Bond Review
  Board shall make available on its Internet website the database
  described by Section 1231.024, Government Code, as added by this
  Act.
         SECTION 3.  This Act takes effect immediately if it receives
  a vote of two-thirds of all the members elected to each house, as
  provided by Section 39, Article III, Texas Constitution.  If this
  Act does not receive the vote necessary for immediate effect, this
  Act takes effect September 1, 2011.