|
|
|
A BILL TO BE ENTITLED
|
|
AN ACT
|
|
relating to posting certain municipal financial information on the |
|
Internet. |
|
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|
SECTION 1. Subtitle A, Title 4, Local Government Code, is |
|
amended by adding Chapter 110 to read as follows: |
|
CHAPTER 110. MISCELLANEOUS FINANCIAL PROVISIONS AFFECTING |
|
MUNICIPALITIES |
|
Sec. 110.001. POSTING OF COMPREHENSIVE ANNUAL FINANCIAL |
|
REPORT ON INTERNET. (a) In this section, "comprehensive annual |
|
financial report" means a written report prepared by or for a |
|
municipality at the end of each fiscal year that provides at a |
|
minimum a detailed accounting of: |
|
|
|
(1) all funds received and disbursed by the municipality |
|
during the fiscal year; and |
|
(2) all outstanding debt obligations of the municipality as |
|
of the last day of the fiscal year. |
|
(b) A municipality that maintains an Internet website shall |
|
post the municipality's comprehensive annual financial report on |
|
the website. The municipality must post the report as soon as the |
|
report is available and must maintain the posting at all times until |
|
at least the third anniversary of the date the report is first |
|
posted. |
|
SECTION 1. This Act takes effect January 1, 2016. |