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A BILL TO BE ENTITLED
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AN ACT
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relating to the use of certain unspent bond proceeds and voter |
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approval of certain political subdivision actions, including the |
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issuance of certain bonds and the use of certain unspent bond |
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proceeds. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 52.072(e), Election Code, is amended to |
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read as follows: |
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(e) In addition to any other requirement imposed by law for |
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a proposition, including a provision prescribing the proposition |
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language, a proposition submitted to the voters by a political |
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subdivision for approval of the issuance of bonds or the |
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imposition, increase, or reduction of a tax shall specifically |
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state, as applicable: |
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(1) with respect to a proposition seeking voter |
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approval of the issuance of bonds: |
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(A) the total principal amount of the bonds to be |
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authorized, if approved; and |
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(B) each specific purpose [a general description
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of the purposes] for which the bonds are to be authorized, if |
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approved; |
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(2) with respect to a proposition that only seeks |
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voter approval of the imposition or increase of a tax, the amount of |
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or maximum tax rate of the tax or tax increase for which approval is |
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sought; or |
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(3) with respect to a proposition that only seeks |
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voter approval of the reduction of a tax, the amount of tax rate |
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reduction or the tax rate for which approval is sought. |
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SECTION 2. Subtitle C, Title 9, Government Code, is amended |
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by adding Chapter 1253 to read as follows: |
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CHAPTER 1253. USE OF BOND PROCEEDS BY POLITICAL SUBDIVISIONS FOR |
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OTHER PURPOSES |
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Sec. 1253.001. DEFINITION. In this chapter, "political |
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subdivision" means a county, municipality, school district, junior |
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college district, other special district, or other subdivision of |
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state government. |
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Sec. 1253.002. USE OF UNSPENT GENERAL OBLIGATION BOND |
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PROCEEDS. A political subdivision may use the unspent proceeds of |
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issued general obligation bonds only: |
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(1) for the specific purpose for which the bonds were |
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issued; |
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(2) to retire the bonds; or |
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(3) for a purpose other than the specific purpose for |
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which the bonds were issued if: |
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(A) the specific purpose is accomplished or |
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abandoned; and |
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(B) a majority of the votes cast in an election |
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held in the political subdivision approve the use of the proceeds |
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for the proposed purpose. |
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Sec. 1253.003. ELECTION PROCEDURES. (a) The election |
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order and the notice of election for an election authorized to be |
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held under Section 1253.002 must state the proposed purpose for |
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which the bond proceeds are to be used. |
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(b) A political subdivision must hold the election in the |
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same manner as an election to issue bonds in the political |
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subdivision. |
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SECTION 3. Chapter 1332, Government Code, is repealed. |
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SECTION 4. Section 52.072(e), Election Code, as amended by |
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this Act, applies only to an election ordered on or after the |
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effective date of this Act. An election ordered before the |
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effective date of this Act is governed by the law in effect when the |
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election was ordered. |
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SECTION 5. This Act takes effect January 1, 2018. |