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