88R1230 TJB-D
 
  By: Landgraf H.B. No. 159
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to the procedure by which a taxing unit is required to
  provide public notice of certain ad valorem tax-related
  information.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Section 26.04(e), Tax Code, is amended to read as
  follows:
         (e)  By August 7 or as soon thereafter as practicable, the
  designated officer or employee shall submit the rates to the
  governing body. The designated officer or employee shall publish
  in a newspaper and post prominently on the home page of the taxing
  unit's Internet website in the form prescribed by the comptroller:
               (1)  the no-new-revenue tax rate, the voter-approval
  tax rate, and an explanation of how they were calculated;
               (2)  the estimated amount of interest and sinking fund
  balances and the estimated amount of maintenance and operation or
  general fund balances remaining at the end of the current fiscal
  year that are not encumbered with or by corresponding existing debt
  obligation; and
               (3)  a schedule of the taxing unit's debt obligations
  showing:
                     (A)  the amount of principal and interest that
  will be paid to service the taxing unit's debts in the next year
  from property tax revenue, including payments of lawfully incurred
  contractual obligations providing security for the payment of the
  principal of and interest on bonds and other evidences of
  indebtedness issued on behalf of the taxing unit by another
  political subdivision and, if the taxing unit is created under
  Section 52, Article III, or Section 59, Article XVI, Texas
  Constitution, payments on debts that the taxing unit anticipates to
  incur in the next calendar year;
                     (B)  the amount by which taxes imposed for debt
  are to be increased because of the taxing unit's anticipated
  collection rate; and
                     (C)  the total of the amounts listed in Paragraphs
  (A)-(B), less any amount collected in excess of the previous year's
  anticipated collections certified as provided in Subsection (b).
         SECTION 2.  The change in law made by this Act applies only
  to an ad valorem tax year that begins on or after the effective date
  of this Act.
         SECTION 3.  This Act takes effect September 1, 2024.