Honorable Eddie Lucio, Jr., Chair, Senate Committee on Intergovernmental Relations
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
SB2258 by Kolkhorst ( Relating to the conversion of the Grand Northwest Municipal Utility District to the Grand Northwest Municipal Management District; providing authority to issue bonds; providing authority to impose assessments, fees, or taxes.), Committee Report 1st House, Substituted
No fiscal implication to the State is anticipated.
The bill would amend the Special District Local Laws Code converting the Grand Northwest Utility District to the Grand Northwest Municipal Management District. The district would have authority to engage in activities to promote economic development. The district would have authority to issue bonds, without an election. The district would have authority to impose an operation and maintenance tax and a contract tax.
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.