Honorable Jane Nelson, Chair, Senate Committee on Finance
Ursula Parks, Director, Legislative Budget Board
SB794 by Hancock (Relating to the authority of a political subdivision to issue debt to purchase or lease tangible personal property.), As Introduced
No fiscal implication to the State is anticipated.
The bill would amend the Government Code to prohibit a political subdivision from issuing a public security to purchase or lease tangible personal property if the expected life of the property ends before the maturity date of the public security.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.