Honorable Joe Straus, Speaker of the House, House of Representatives
John S O'Brien, Director, Legislative Budget Board
HB360 by Jackson, Jim (Relating to ballot language for a proposition to approve the imposition, increase, or reduction of a tax or the issuance of bonds.), As Passed 2nd House
No significant fiscal implication to the State is anticipated.
The bill would require a proposition allowing the voters to approve the imposition, increase, or reduction of a tax or the issuance of bonds to include a description of and the total principal amount of the bonds that would be issued or the amount of the tax or tax rate increase or decrease.The bill would take effect on September 1, 2011.It is anticipated that any costs associated with implementation of the legislation could be absorbed within existing resources.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.