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