The digital content on TLO has been updated to align with the accessibility standards required by WCAG 2.1.
Amend CSHB 1869 (house committee printing) by adding the following appropriately numbered SECTION to the bill and renumbering the SECTIONS of the bill accordingly:
SECTION ____. Chapter 26, Tax Code, is amended by adding Section 26.014 to read as follows:
Sec. 26.014. DEBT FOR CERTAIN TAXING UNITS. (a) This section applies only to:
(1) a county with a population of at least 1.7 million that contains a municipality in which at least 75 percent of the county's population resides; and
(2) a taxing unit any part of which is located in a county described by Subdivision (1).
(b) In this chapter, "debt" means a bond, warrant, certificate of obligation, or other evidence of indebtedness owed by a taxing unit that is payable solely from property taxes in installments over a period of more than one year, not budgeted for payment from maintenance and operations funds, and secured by a pledge of property taxes, or a payment made under contract to secure indebtedness of a similar nature issued by another political subdivision on behalf of the taxing unit.