Bill Text: TX HB3097 | 2023-2024 | 88th Legislature | Enrolled

Texas House Bill 3097

Bill Title: Relating to the issuance of anticipation notes or other obligations by issuers located along the Gulf Coast in an emergency.

Spectrum: Strong Partisan Bill (Republican 13-1)

Status: (Passed) 2023-06-18 - Effective immediately [HB3097 Detail]

Download: Texas-2023-HB3097-Enrolled.html



	H.B. No. 3097




	AN ACT
	relating to the issuance of anticipation notes or other obligations
	by issuers located along the Gulf Coast in an emergency.
	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
	SECTION 1. Section 1431.015(b), Government Code, is amended
	to read as follows:
	(b) Notwithstanding any other provision of this chapter or a
	rating requirement prescribed by Chapter 1371, an issuer located
	within 70 miles of the Gulf of Mexico or of a bay or inlet of the
	gulf may authorize the issuance of an anticipation note or other
	obligation in the event of an emergency. An anticipation note or
	other obligation issued under this section is an obligation under
	Chapter 1371, but is not required to be rated as required by that
	chapter.
	SECTION 2. The change in law made by this Act applies only
	to an anticipation note or obligation issued on or after the
	effective date of this Act. A note or obligation issued before the
	effective date of this Act is governed by the law in effect on the
	date the note or obligation was issued, and that law is continued in
	effect for that purpose.
	SECTION 3. 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.


	______________________________	______________________________
	President of the Senate	Speaker of the House


	I certify that H.B. No. 3097 was passed by the House on May 6,
	2023, by the following vote: Yeas 125, Nays 9, 2 present, not
	voting.

	______________________________
	Chief Clerk of the House


	I certify that H.B. No. 3097 was passed by the Senate on May
	24, 2023, by the following vote: Yeas 31, Nays 0.

	______________________________
	Secretary of the Senate
	APPROVED: _____________________
	Date

	_____________________
	Governor