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A BILL TO BE ENTITLED
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AN ACT
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relating to ballot propositions authorizing certain political |
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subdivisions to issue bonds. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Chapter 1251, Government Code, is amended by |
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designating Sections 1251.001, 1251.002, 1251.003, 1251.004, |
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1251.005, and 1251.006 as Subchapter A and adding a subchapter |
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heading to read as follows: |
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SUBCHAPTER A. BOND ELECTION REQUIREMENTS FOR COUNTIES AND |
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MUNICIPALITIES |
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SECTION 2. Chapter 1251, Government Code, is amended by |
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adding Subchapter B to read as follows: |
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SUBCHAPTER B. BOND ELECTION BALLOTS FOR CERTAIN POLITICAL |
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SUBDIVISIONS |
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Sec. 1251.051. DEFINITIONS. In this subchapter: |
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(1) "Debt obligation" means an issued public security, |
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as defined by Section 1201.002. |
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(2) "Political subdivision" means a county, |
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municipality, or school district. |
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Sec. 1251.052. CONTENTS OF BALLOT PROPOSITION. (a) The |
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proposition submitted for an election to authorize a political |
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subdivision to issue bonds must distinctly state: |
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(1) as a total amount and as a per capita amount: |
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(A) the then-current combined principal and |
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interest required to pay all outstanding debt obligations of the |
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political subdivision on time and in full; and |
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(B) the estimated combined principal and |
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interest required to pay the bonds to be authorized on time and in |
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full; and |
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(2) if the bonds are supported by property taxes, the |
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annual increase in property taxes attributable to the bonds to be |
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issued that each homeowner of an average-priced home within the |
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political subdivision may be required to pay. |
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(b) The requirements for a proposition prescribed by this |
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section are in addition to any other requirements prescribed by |
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law. To the extent of a conflict between this section and Section |
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52.072, Election Code, this section controls. |
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Sec. 1251.053. ONLINE SAMPLE BALLOT. A sample of the ballot |
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printed for an election to authorize a political subdivision to |
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issue bonds must be posted on the political subdivision's Internet |
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website, if the political subdivision maintains a website, as soon |
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as practicable after the official ballots have been prepared and |
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must remain posted until the day following the election. |
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Sec. 1251.054. FORM OF BALLOT. The secretary of state shall |
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develop a form of the ballot for an election described by this |
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subchapter. A political subdivision is not required to use the |
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form. |
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SECTION 3. (a) Sections 1251.052 and 1251.053, Government |
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Code, as added by this Act, apply only to a ballot proposition for a |
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bond election ordered on or after January 1, 2018. |
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(b) Not later than December 1, 2017, the secretary of state |
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shall make available on the secretary of state's Internet website a |
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form of the ballot described by Section 1251.054, Government Code, |
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as added by this Act. |
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SECTION 4. (a) Except as provided by Subsection (b) of this |
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section, this Act takes effect September 1, 2017. |
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(b) Sections 1251.052 and 1251.053, Government Code, as |
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added by this Act, take effect January 1, 2018. |