Honorable Paul Bettencourt, Chair, Senate Committee on Property Tax
FROM:
John McGeady, Assistant Director Sarah Keyton, Assistant Director Legislative Budget Board
IN RE:
SB652 by Campbell (relating to procedures and requirements for the issuance of certificates of obligation.), Committee Report 1st House, Substituted
No significant fiscal implication to the State is anticipated.
The bill would amend the Local Government Code to increase the time required before a governing body of a bond issuer may authorize an obligation following a failed bond proposition from three to six years. The bill would also require certain reporting changes.
According to the Bond Review Board (BRB), no fiscal impact to the state is anticipated.
Local Government Impact
According to BRB, the bill is not anticipated to have a fiscal impact on units of local government.