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A BILL TO BE ENTITLED
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AN ACT
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Relating to transparency requirements for the disclosure of debt |
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information to voters. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Chapter 52, Election Code is amended as follows: |
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ELECTION CODE |
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Sec. 52.072. PROPOSITIONS. (a) Except as otherwise |
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provided by law, the authority ordering the election shall |
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prescribe the wording of a proposition that is to appear on the |
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ballot. |
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(b) A proposition shall be printed on the ballot in the form |
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of a single statement and may appear on the ballot only once. |
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(c) Except as provided by Subsection (d), in an election in |
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which an office and a measure are to be voted on, each proposition |
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stating a measure shall appear on the ballot after the listing of |
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offices. |
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(d) If an election of officers is contingent on the adoption |
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of a proposition appearing on the same ballot, the proposition |
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shall appear on the ballot before the listing of offices. |
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(e) In addition to any other requirement imposed by law for |
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a proposition, including a provision prescribing the proposition |
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language, a proposition submitted to the voters for approval of the |
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issuance of bonds or the imposition, increase, or reduction of a tax |
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shall for any political subdivision, including municipalities, |
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counties, school districts, and special taxing districts |
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specifically state, as applicable: |
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(1) with respect to a proposition seeking voter |
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approval of the issuance of bonds: |
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(A) the total amount of the political |
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subdivision's debt currently outstanding; |
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(B) the total amount of the political |
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subdivision's current debt payments; |
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(C) the total amount of the political |
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subdivision's current debt obligations per capita; |
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(D) the total principal amount of the bonds to be |
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authorized, if approved; and
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(E) the estimated tax burden per capita of the |
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bonds to be authorized, if approved; and |
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(BF) a general description of the purposes for |
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which the bonds are to be authorized, if approved;. |
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(2) with respect to a proposition that only seeks |
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voter approval of the imposition or increase of a tax,: |
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(A) the amount of or maximum tax rate of the tax |
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or tax increase for which approval is sought; -e-r |
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(B) the estimated tax burden per capita of the |
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imposition or increase of a tax, if approved; and |
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(C) a detailed description of the purposes for |
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which the tax is to be imposed or increased, if approved. |
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(3) with respect to a proposition that only seeks |
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voter approval of the reduction of a tax,: |
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(A) the amount of tax rate reduction or the tax |
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rate for which approval is sought.; and |
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(B) the estimated tax reduction per capita of the |
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imposition or increase of a tax, if approved. |