Bill Text: TX HB1360 | 2021-2022 | 87th Legislature | Comm Sub

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Bill Title: Relating to the procedure by which a taxing unit is required to provide public notice of certain ad valorem tax-related information.

Spectrum: Partisan Bill (Republican 2-0)

Status: (Introduced - Dead) 2021-05-12 - Placed on General State Calendar [HB1360 Detail]

Download: Texas-2021-HB1360-Comm_Sub.html

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87R6078 TJB-D
By: Landgraf, Guillen H.B. No. 1360

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 January 1, 2022.