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A BILL TO BE ENTITLED
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AN ACT
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relating to the form of ballot propositions and certain voter |
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information document requirements for an election seeking |
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authorization for the issuance of school district bonds supported |
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by property taxes. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter A, Chapter 45, Education Code, is |
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amended by adding Sections 45.0032, 45.0033, 45.0034, and 45.0035 |
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to read as follows: |
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Sec. 45.0032. BALLOT LANGUAGE FOR TAX-SUPPORTED BONDS. (a) |
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In this section: |
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(1) "New infrastructure project" means a project to |
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construct, acquire, purchase, or finance new facilities, sites for |
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school buildings, other property, or school buses. |
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(2) "Replacements and upgrades project" means a |
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project other than a new infrastructure project related to |
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replacing or upgrading existing facilities, sites for school |
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buildings, other property, or school buses. |
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(b) A ballot prepared for an election to authorize the |
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issuance of bonds described by Section 45.001 may contain not more |
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than two propositions as follows: |
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(1) a proposition to issue bonds for new |
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infrastructure projects that provides for voting for or against |
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authorizing the issuance of bonds to support all new infrastructure |
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projects listed in the proposition; and |
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(2) a proposition to issue bonds for replacements and |
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upgrades projects that provides for voting for or against |
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authorizing the issuance of bonds to support all replacements and |
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upgrades projects listed in the proposition. |
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Sec. 45.0033. VOTER INFORMATION DOCUMENT FOR TAX-SUPPORTED |
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BONDS. (a) A governing board or commissioners court that calls an |
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election under Section 45.003 must prepare a voter information |
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document for each proposition to be voted on at the election. The |
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governing board or commissioners court shall post the voter |
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information document in the same manner that a debt obligation |
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election order is required to be posted under Section 4.003(f), |
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Election Code, and may include the voter information document in |
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the election order. The voter information document must distinctly |
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state: |
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(1) the language that will appear on the ballot; |
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(2) the following information formatted as a table: |
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(A) the principal of the bonds to be authorized; |
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(B) the estimated interest for the bonds to be |
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authorized; |
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(C) the estimated combined principal and |
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interest required to pay on time and in full the bonds to be |
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authorized; and |
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(D) as of the date the governing board or |
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commissioners court adopts the election order: |
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(i) the principal of all outstanding debt |
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obligations of the district; |
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(ii) the estimated remaining interest on |
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all outstanding debt obligations of the district, which may be |
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based on the district's expectations relative to the interest due |
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on any variable rate debt obligations; and |
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(iii) the estimated combined principal and |
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interest required to pay on time and in full all outstanding debt |
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obligations of the district, which may be based on the district's |
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expectations relative to the interest due on any variable rate debt |
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obligations; |
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(3) the estimated maximum annual increase in the |
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amount of taxes that would be imposed on a residence homestead in |
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the district with an appraised value of $100,000 to repay the debt |
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obligations to be authorized, if approved, based upon assumptions |
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made by the governing board or commissioners court; |
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(4) for each proposed project included in a |
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proposition to issue bonds: |
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(A) a visual depiction of the design or concept |
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of each proposed project; |
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(B) a statement of the needs to be addressed by |
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each proposed project and how the project will address those needs; |
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(C) a detailed description of any equipment to be |
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purchased for the proposed project, the number of individual pieces |
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of equipment to be purchased, and the cost of each individual piece |
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of equipment; and |
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(D) a statement of the projected effect of each |
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proposed project regarding existing facilities of the district, |
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including, as applicable, the projected effect on class size ratios |
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in the district or the number of school events that may be supported |
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by the project; |
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(5) for a new infrastructure project listed in a |
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proposition described under Section 45.0032(b)(1), other than a |
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project for the acquisition, purchase, or financing of school |
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buses, the geographic location proposed for the project; and |
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(6) any other information that the governing board or |
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commissioners court considers relevant or necessary to explain the |
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information required by this subsection. |
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(b) The governing board or commissioners court may not |
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include in the voter information document required under this |
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section information regarding the geographic location for a |
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replacements and upgrades project listed in a proposition described |
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by Section 45.0032(b)(2). |
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(c) The governing board or commissioners court shall |
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identify in the election order the major assumptions made in |
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connection with the statement required by Subsection (a)(3), |
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including: |
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(1) the amortization of the district's debt |
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obligations, including outstanding debt obligations and the debt |
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obligations for the proposed bonds; |
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(2) changes in estimated future appraised values |
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within the district; and |
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(3) the assumed interest rate on the proposed bonds. |
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(d) A district that maintains an Internet website shall |
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provide the information described by Subsection (a) on its website |
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in an easily accessible manner beginning not later than the 21st day |
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before election day and ending on the day after the date of the |
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election. |
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Sec. 45.0034. NOTICE REQUIREMENTS: ISSUANCE OF |
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CERTIFICATES OF OBLIGATION ON TAX-SUPPORTED BONDS. (a) In |
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addition to the requirements provided under Section 271.049, Local |
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Government Code, a district that issues a certificate of obligation |
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on bonds described by Section 45.001 must comply with the |
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additional notice requirements provided by this section. |
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(b) A district that maintains an Internet website shall |
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publish notice of the district's intention to issue the |
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certificates on the district's website for at least 45 days before |
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the date tentatively set for the passage of the resolution or order |
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authorizing the issuance of the certificate. |
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(c) The notice of a district's issuance of certificates of |
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obligation on bonds described by Section 45.001 must state the |
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following: |
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(1) the then-current principal of all outstanding debt |
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obligations of the district; |
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(2) the then-current combined principal and interest |
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required to pay all outstanding debt obligations of the district on |
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time and in full, which may be based on the district's expectations |
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relative to the interest due on any variable rate debt obligations; |
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(3) the maximum principal amount of the certificates |
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to be authorized; |
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(4) the estimated combined principal and interest |
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required to pay the certificates to be authorized on time and in |
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full; |
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(5) the estimated interest rate for the certificates |
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to be authorized or that the maximum interest rate for the |
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certificates may not exceed the maximum legal interest rate; and |
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(6) the maximum maturity date of the certificates to |
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be authorized. |
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Sec. 45.0035. CONFLICT OF LAW. (a) Sections 45.0032 and |
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45.0033 provide the ballot proposition language and voter |
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information document requirements for an election to authorize the |
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issuance of bonds described by Section 45.001. To the extent of a |
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conflict between a provision of this subchapter and another law |
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applicable to the ballot proposition language or voter information |
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document requirements for an election to authorize the issuance of |
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bonds, this subchapter controls. |
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(b) An officer or employee of a governing board who, in |
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compliance with Section 45.0033, provides the information required |
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in a voter information document under that section does not violate |
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Section 255.003(b-1), Election Code, regardless of whether the |
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information provided is sufficiently substantial and important as |
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to be reasonably likely to influence a voter to vote for or against |
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the measure. |
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SECTION 2. (a) The changes in law made by this Act to |
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Chapter 45, Education Code, apply only to a ballot for an election |
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ordered on or after the effective date of this Act. An election |
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ordered before the effective date of this Act is governed by the law |
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in effect when the election was ordered, and the former law is |
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continued in effect for that purpose. |
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(b) Section 45.0034, Education Code, as added by this Act, |
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applies only to a certificate of obligation for which the first |
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notice of intention to issue the certificate is made on or after the |
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effective date of this Act. A certificate of obligation for which |
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the first notice of intention to issue the certificate is made |
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before the effective date of this Act is governed by the law in |
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effect when the notice of intention is made, and the former law is |
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continued in effect for that purpose. |
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SECTION 3. This Act takes effect September 1, 2019. |