Bill Text: TX HB4127 | 2021-2022 | 87th Legislature | Introduced
Bill Title: Relating to the specified use of bond proceeds by a county or municipality.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2021-03-29 - Referred to Pensions, Investments & Financial Services [HB4127 Detail]
Download: Texas-2021-HB4127-Introduced.html
87R10646 SMT-D | ||
By: Schofield | H.B. No. 4127 |
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relating to the specified use of bond proceeds by a county or | ||
municipality. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Subchapter A, Chapter 1251, Government Code, is | ||
amended by adding Section 1251.002 to read as follows: | ||
Sec. 1251.002. SPECIFIED USE OF BOND PROCEEDS. (a) The | ||
ballot for a bond election must state with specificity each project | ||
to be funded through the bond proceeds and the amount of bond | ||
proceeds to be spent on each project. | ||
(b) A county or municipality may not: | ||
(1) spend an amount of the bond proceeds on a project | ||
than is greater than the amount stated on the ballot for the | ||
project; or | ||
(2) transfer bond proceeds from one project to | ||
another, regardless of whether the projects were approved at the | ||
same election. | ||
(c) An individual who voted in the bond election has | ||
standing to bring an action in district court for injunctive relief | ||
against the county or municipality that held the election for a | ||
violation of this section regardless of whether the individual is | ||
directly or indirectly injured by the violation. | ||
SECTION 2. Section 1251.002, Government Code, as added by | ||
this Act, applies only to a bond election ordered on or after the | ||
effective date of this Act. A bond election ordered before the | ||
effective date of this Act is governed by the law in effect when the | ||
bond election was ordered, and the former law is continued in effect | ||
for that purpose. | ||
SECTION 3. This Act takes effect September 1, 2021. |