84R1735 TJB-D
 
  By: Hinojosa S.B. No. 102
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to ballot propositions authorizing political subdivisions
  to issue bonds.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Chapter 1251, Government Code, is amended by
  designating Sections 1251.001, 1251.002, 1251.003, 1251.004,
  1251.005, and 1251.006 as Subchapter A and adding a subchapter
  heading to read as follows:
  SUBCHAPTER A.  BOND ELECTION REQUIREMENTS FOR COUNTIES AND
  MUNICIPALITIES
         SECTION 2.   Chapter 1251, Government Code, is amended by
  adding Subchapter B to read as follows:
  SUBCHAPTER B.  BOND ELECTION BALLOTS
         Sec. 1251.051.  DEFINITIONS. In this subchapter:
               (1)  "Debt obligation" means an issued public security,
  as defined by Section 1201.002.
               (2)  "Political subdivision" means a county,
  municipality, school district, junior college district, other
  special district, or other subdivision of state government.
         Sec. 1251.052.  CONTENTS OF BALLOT PROPOSITION. (a)  The
  proposition submitted for an election to authorize a political
  subdivision to issue bonds must distinctly state:
               (1)  the then-current combined principal and interest
  required to pay all outstanding debt obligations of the political
  subdivision on time and in full;
               (2)  the estimated combined principal and interest
  required to pay the bonds to be authorized on time and in full; and
               (3)  if the bonds are supported by property taxes, the
  annual increase in property taxes attributable to the bonds to be
  issued that each homeowner of an average-priced home within the
  political subdivision may be required to pay.
         (b)  The requirements for a proposition prescribed by this
  section are in addition to any other requirements prescribed by
  law.  To the extent of a conflict between this section and Section
  52.072, Election Code, this section controls.
         Sec. 1251.053.  ONLINE SAMPLE BALLOT. A sample of the ballot
  printed for an election to authorize a political subdivision to
  issue bonds must be posted on the political subdivision's Internet
  website, if the political subdivision maintains a website, as soon
  as practicable after the official ballots have been prepared and
  must remain posted until the day following the election.
         Sec. 1251.054.  FORM OF BALLOT. The secretary of state shall
  prescribe a form of the ballot for an election held under this
  subchapter.  A political subdivision is not required to use the
  form.
         SECTION 3.  (a)  Sections 1251.052 and 1251.053, Government
  Code, as added by this Act, apply only to a bond election ordered on
  or after January 1, 2016.  A bond election ordered before January 1,
  2016, is governed by the law in effect when the bond election was
  ordered, and the former law is continued in effect for that purpose.
         (b)  Not later than December 1, 2015, the secretary of state
  shall make available on the secretary of state's Internet website a
  form of the ballot described by Section 1251.054, Government Code,
  as added by this Act.
         SECTION 4.  This Act takes effect September 1, 2015.