BILL ANALYSIS

H.B. 2962

By: Sanford

Elections

Committee Report (Unamended)

BACKGROUND AND PURPOSE

Interested parties contend that the ballot information for a proposition to approve the issuance of bonds by a county should include certain bond rating information. H.B. 2962 seeks to address this issue.

CRIMINAL JUSTICE IMPACT

It is the committee's opinion that this bill does not expressly create a criminal offense, increase the punishment for an existing criminal offense or category of offenses, or change the eligibility of a person for community supervision, parole, or mandatory supervision.

RULEMAKING AUTHORITY

It is the committee's opinion that this bill does not expressly grant any additional rulemaking authority to a state officer, department, agency, or institution.

ANALYSIS

H.B. 2962 amends the Election Code to require a proposition submitted to voters for approval of the issuance of bonds by a county to state the most recent rating, if any, given by Standard and Poor's or another industry-recognized bond rating service to bonds issued by the county and a plain-language description of the applicable bond rating system.

EFFECTIVE DATE

January 1, 2016.