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BILL ANALYSIS

 

 

 

H.B. 1488

By: Harless

Land & Resource Management

Committee Report (Unamended)

 

 

 

BACKGROUND AND PURPOSE

 

The Charterwood Municipal Utility District of Harris County is primarily residential with almost all of its land developed and it has been noted that as one of the older districts in its area it has paid down most of its bonded indebtedness. As such, it has been suggested that the district use its available resources for recreational facilities and that to better do this the district should be exempt from a certain bond limitation. H.B. 1488 seeks to provide for such an exemption and provide for a different bond limitation relating to the financing of recreational facilities.

 

CRIMINAL JUSTICE IMPACT

 

It is the committee's opinion that this bill does not expressly create a criminal offense, increase the punishment for an existing criminal offense or category of offenses, or change the eligibility of a person for community supervision, parole, or mandatory supervision.

 

RULEMAKING AUTHORITY

 

It is the committee's opinion that this bill does not expressly grant any additional rulemaking authority to a state officer, department, agency, or institution.

 

ANALYSIS

 

H.B. 1488 amends the Special District Local Laws Code to exempt the Charterwood Municipal Utility District of Harris County from the limitation on the outstanding principal amount of bonds, notes, and other obligations issued to finance parks and recreational facilities provided by certain Water Code provisions. The bill caps the outstanding principal amount of bonds, notes, and other obligations issued by the district to finance recreational facilities supported by property taxes at an amount equal to three percent of the value of the taxable property in the district or, if supported by contract taxes, at an amount equal to three percent of the value of the taxable property in the districts making payments under the contract. The bill establishes that these amounts are calculated based on the tax rolls of the central appraisal districts at the time of the issuance of the bonds, notes, and other obligations.

 

EFFECTIVE DATE

 

September 1, 2019.