|
|
|
A BILL TO BE ENTITLED
|
|
AN ACT
|
|
relating to certain conservation and reclamation districts |
|
exempted from filing a full audit. |
|
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|
SECTION 1. Section 49.198(a), Water Code, is amended to |
|
read as follows: |
|
(a) A district may elect to file annual financial reports |
|
with the executive director in lieu of the district's compliance |
|
with Section 49.191 provided: |
|
(1) the district had no bonds or other long-term (more |
|
than one year) liabilities outstanding during the fiscal period; |
|
(2) the district did not have gross receipts from |
|
operations, loans, taxes, or contributions in excess of $250,000 |
|
[$100,000] during the fiscal period; and |
|
(3) the district's cash and temporary investments were |
|
not in excess of $100,000 at any time during the fiscal period. |
|
SECTION 2. Section 49.198(a), Water Code, as amended by |
|
this Act, applies to a district that files its annual financial |
|
report on or after the effective date of this Act. A district that |
|
files its annual financial report before the effective date of this |
|
Act is governed by the law in effect on the date the report is filed, |
|
and that law is continued in effect for that purpose. |
|
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. |