Bill Text: TX HB2944 | 2011-2012 | 82nd Legislature | Comm Sub
Bill Title: Relating to a searchable database for the bonds and other debt obligations issued by local governmental entities.
Sponsorship: Bipartisan Bill
Status: (Introduced - Dead) 2011-05-02 - Committee report sent to Calendars [HB2944 Detail]
Download: Texas-2011-HB2944-Comm_Sub.html
| 82R17834 EAH-D | |||
| By: Coleman, Paxton | H.B. No. 2944 | ||
| Substitute the following for H.B. No. 2944: | |||
| By: White | C.S.H.B. No. 2944 | ||
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| relating to a searchable database for the bonds and other debt | ||
| obligations issued by local governmental entities. | ||
| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
| SECTION 1. Subchapter B, Chapter 1231, Government Code, is | ||
| amended by adding Section 1231.024 to read as follows: | ||
| Sec. 1231.024. SEARCHABLE DATABASE FOR BOND AND DEBT | ||
| OBLIGATIONS OF LOCAL GOVERNMENTAL ENTITIES. (a) The board shall | ||
| develop and maintain a computerized database that: | ||
| (1) lists the bond and other debt obligations issued | ||
| by each local governmental entity granted debt authority by the | ||
| Texas Constitution; and | ||
| (2) is searchable by each local governmental entity | ||
| within a zip code. | ||
| (b) The database must include the: | ||
| (1) specific debt issued by each local governmental | ||
| entity and the principal, interest, and payments on the debt; | ||
| (2) total principal, interest, and payments on all | ||
| debt issued by each local governmental entity; and | ||
| (3) total principal, interest, and payments on all | ||
| debt issued by local governmental entities in each zip code. | ||
| (c) The board shall make the database described by | ||
| Subsection (a) available to the public on the board's Internet | ||
| website. | ||
| (d) The comptroller shall provide on the comptroller's | ||
| Internet website a link to the database made available by the board | ||
| under Subsection (c). | ||
| (e) Each local governmental entity shall provide to the | ||
| board, at times required by the board, information that the board | ||
| determines to be necessary for the database under Subsection (a). | ||
| SECTION 2. Not later than September 1, 2012, the Bond Review | ||
| Board shall make available on its Internet website the database | ||
| described by Section 1231.024, Government Code, as added by this | ||
| Act. | ||
| 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, 2011. | ||
