Bill Text: TX SB151 | 2017-2018 | 85th Legislature | Engrossed
Bill Title: Relating to voter approval of obligations for certain municipal liabilities to a public pension fund.
Sponsorship: Partisan Bill (Republican 2)
Status: (Engrossed - Dead) 2017-05-16 - Left pending in committee [SB151 Detail]
Download: Texas-2017-SB151-Engrossed.html
| By: Bettencourt | S.B. No. 151 | |
| Taylor of Collin | ||
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| relating to voter approval of obligations for certain municipal | ||
| liabilities to a public pension fund. | ||
| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
| SECTION 1. Chapter 107, Local Government Code, is amended | ||
| by adding Section 107.0035 to read as follows: | ||
| Sec. 107.0035. VOTER APPROVAL REQUIRED FOR PENSION FUND | ||
| OBLIGATIONS. A municipality may issue an obligation under Section | ||
| 107.003 only if the issuance is approved by a majority of the | ||
| qualified voters of the municipality voting at an election held for | ||
| that purpose. | ||
| SECTION 2. Section 107.0035, Local Government Code, as | ||
| added by this Act, applies only to obligations for which the | ||
| governing body of a municipality executes an agreement under | ||
| Section 107.003(b), Local Government Code, on or after the | ||
| effective date of 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, 2017. | ||
