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A BILL TO BE ENTITLED
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AN ACT
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relating to the issuance of certain capital appreciation bonds by |
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political subdivisions. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 1201.0245(j), Government Code, is |
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amended to read as follows: |
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(j) This section [Subsection (b)] does not apply to the |
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issuance of: |
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(1) refunding bonds under Chapter 1207; or |
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(2) capital appreciation bonds for the purpose of |
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financing transportation projects. |
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SECTION 2. The change in law made by this Act does not apply |
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to a refunding bond or a capital appreciation bond issued before the |
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effective date of this Act. |
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SECTION 3. This Act takes effect September 1, 2017. |