By: Schofield H.B. No. 4725
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to the maximum maturity of certain refunding bonds issued
  by conservation and reclamation districts.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Section 1207.006, Government Code, is amended to
  read as follows:
         (a)  A refunding bond issued under this chapter must mature
  not later than 40 years after its date.
         (b)  This section does not apply to refunding bonds issued by
  a conservation and reclamation district to refund bonds issued for
  projects, improvements, land, and facilities to convert areas from
  groundwater to surface water.
         SECTION 2.  This Act takes effect immediately if it receives
  a vote of two-thirds of all the members elected to each house, as
  provided by Section 39, Article III, Texas Constitution. If this
  Act does not receive the vote necessary for immediate effect, this
  Act takes effect September 1, 2023.