Honorable Jim Murphy, Chair, House Committee on Special Purpose Districts
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
HB4306 by Metcalf (Relating to providing road powers to the Montgomery County Municipal Utility District No. 101; providing authority to issue bonds.), As Introduced
No fiscal implication to the State is anticipated.
The bill would amend the Special District Local Laws Code granting Montgomery County Municipal Utility District No. 101 authority for road projects. At the time of issuance, the total principal amount of obligations issued or incurred to finance road projects and payable from ad valorem taxes may not exceed one-fourth of the assessed value of the real 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.