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A BILL TO BE ENTITLED
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AN ACT
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relating to the authority of certain conservation and reclamation |
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districts to file an annual financial report with the executive |
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director of the Texas Commission on Environmental Quality in lieu |
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of filing an annual audit report. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 49.198(a), Water Code, is amended to |
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read as follows: |
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(a) A district may elect to file annual financial reports |
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with the executive director in lieu of the district's compliance |
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with Section 49.191 provided: |
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(1) the district had no bonds or other long-term (more |
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than one year) liabilities outstanding during the fiscal period; |
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(2) the district did not have gross receipts from |
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operations, loans, taxes, or contributions in excess of $250,000 |
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during the fiscal period; and |
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(3) the district's cash and temporary investments were |
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not in excess of $750,000 [$250,000] during the fiscal period. |
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SECTION 2. Section 49.198(a), Water Code, as amended by |
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this Act, applies only to a district that is required to file an |
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annual audit report or annual financial report on or after the |
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effective date of this Act. A district that is required to file an |
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annual audit report or annual financial report before the effective |
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date of this Act is governed by the law in effect on the date the |
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report is required to be filed, and that law is continued in effect |
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for that purpose. |
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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, 2013. |