Honorable Paul Bettencourt, Chair, Senate Committee on Property Tax
FROM:
John McGeady, Assistant Director Sarah Keyton, Assistant Director Legislative Budget Board
IN RE:
SB1329 by Bettencourt (Relating to bonds issued by and the dissolution of municipal management districts.), As Introduced
No fiscal implication to the State is anticipated.
The bill would amend the Local Government Code to prohibit the issuance of bonds following a petition for dissolution by a municipal management district. The bill would also require that following such a petition the district would remain in existence solely for the purpose of discharging its bonded indebtedness.
According to the Bond Review Board, the bill would have no fiscal impact on the State.
Local Government Impact
According to the Bond Review Board, the fiscal implications of the bill to on units of local government cannot be determined at this time.