Honorable Joe Straus, Speaker of the House, House of Representatives
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
HB2938 by Reynolds (Relating to the Sienna Plantation Levee Improvement District of Fort Bend County, Texas. ), As Passed 2nd House
No fiscal implication to the State is anticipated.
The bill would amend Chapter 986, Acts of the 78th Legislature, Regular Session, 2003 related to the Sienna Plantation Levee Improvement District of Fort Bend County, Texas. The bill would limit the outstanding principal of bonds, notes, and other obligations issued to finance parks and recreational facilities supported by ad valorem taxation to not exceed an amount equal to one percent of the taxable property in the district unless a majority of voters approve a proposition increasing the maximum to two percent of the taxable property in the district.
The bill would take effect immediately if the bill receives a two-thirds vote in each house; otherwise the bill would take effect September 1, 2017.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.