Bill Text: TX SB625 | 2017-2018 | 85th Legislature | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Relating to public access to financial and tax rate information of certain special purpose districts; imposing a civil penalty.

Spectrum: Partisan Bill (Republican 3-0)

Status: (Passed) 2017-06-09 - Effective on 9/1/17 [SB625 Detail]

Download: Texas-2017-SB625-Introduced.html
  85R6264 JXC-D
 
  By: Kolkhorst S.B. No. 625
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to public access to financial and tax rate information of
  certain special purpose districts.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Subchapter B, Chapter 403, Government Code, is
  amended by adding Sections 403.0241 and 403.0242 to read as
  follows:
         Sec. 403.0241.  SPECIAL PURPOSE DISTRICT PUBLIC INFORMATION
  DATABASE. (a)  In this section:
               (1)  "Special purpose district" means a political
  subdivision of this state with geographic boundaries that define
  the subdivision's territorial jurisdiction.  The term does not
  include a municipality, county, junior college district,
  independent school district, or political subdivision with
  statewide jurisdiction.
               (2)  "Tax year" has the meaning assigned by Section
  1.04, Tax Code.
         (b)  The comptroller shall create and make accessible on the
  Internet a database, to be known as the Special Purpose District
  Public Information Database, that contains information regarding
  all active special purpose districts of this state that are
  authorized by the state by a general or special law to impose an ad
  valorem tax or a sales and use tax, to impose an assessment, or to
  charge a fee.
         (c)  For each special purpose district described by
  Subsection (b), the database must include:
               (1)  the name of the special purpose district;
               (2)  the name of each board member or employee of the
  special purpose district;
               (3)  the name of each attorney who represents the
  district;
               (4)  contact information for the main office of the
  special purpose district, including the physical address, the
  mailing address, and the main telephone number;
               (5)  the special purpose district's Internet website
  address, if any;
               (6)  the information the special purpose district is
  required to report under Section 140.008(b) or (g), Local
  Government Code, including any revenue obligations;
               (7)  the total annual revenue of the special purpose
  district, including bond proceeds and grants;
               (8)  the amount of money in the special purpose
  district's possession on the last day of the most recently
  completed fiscal year, including a statement of the balance in each
  of its accounts at the end of that fiscal year;
               (9)  the rate of any sales and use tax the special
  purpose district imposes; and
               (10)  the table of ad valorem tax rates for the most
  recent tax year described by Section 26.16, Tax Code, in the form
  required by that section.
         (d)  The comptroller may consult with the appropriate
  officer of, or other person representing, each special purpose
  district to obtain the information necessary to operate and update
  the database.
         (e)  To the extent information required in the database is
  otherwise collected or maintained by a state agency or special
  purpose district, the comptroller may request and the state agency
  or special purpose district shall provide that information and
  updates to the information as necessary for inclusion in the
  database.
         (f)  The comptroller shall update information in the
  database at least annually.
         (g)  The comptroller may not charge a fee to the public to
  access the database.
         (h)  The comptroller may establish procedures and adopt
  rules to implement this section.
         Sec. 403.0242.  SPECIAL PURPOSE DISTRICT NONCOMPLIANCE
  LIST. (a) The comptroller shall prepare and maintain a
  noncompliance list of special purpose districts that have not
  complied with a requirement to provide information under Section
  403.0241 or Section 203.062, Local Government Code.
         (b)  If a special purpose district does not comply with a
  requirement to provide information under Section 403.0241 or
  Section 203.062, Local Government Code, the comptroller shall
  notify the person listed as the contact for the district. The
  notice must be in writing, describe the information that must be
  submitted to the comptroller, and inform the special purpose
  district that the district will be placed on the noncompliance list
  if the required information is not provided.
         (c)  The attorney general may not approve a public security
  submitted under Chapter 1202 by a special purpose district that
  appears on the noncompliance list until the attorney general
  receives written notification from the comptroller that the
  comptroller:
               (1)  has received the required information; or
               (2)  has agreed to a later date for the special purpose
  district to submit the information.
         SECTION 2.  Chapter 203, Local Government Code, is amended
  by adding Subchapter D to read as follows:
  SUBCHAPTER D.  RECORDS AND INFORMATION PROVIDED TO COMPTROLLER
         Sec. 203.061.  APPLICABILITY OF SUBCHAPTER.  This subchapter
  applies only to a special purpose district described by Section
  403.0241(b), Government Code.
         Sec. 203.062.  PROVISION OF CERTAIN RECORDS AND OTHER
  INFORMATION TO COMPTROLLER.  (a)  A special purpose district shall 
  transmit records and other information to the comptroller annually
  for purposes of providing the comptroller with information to
  operate and update the Special Purpose District Public Information
  Database under Section 403.0241, Government Code.
         (b)  The special purpose district may comply with Subsection
  (a) by transmitting an affidavit affirming that records and other
  information previously transmitted are current.
         (c)  The special purpose district shall transmit the records
  and other information in a form and in the manner prescribed by the
  comptroller.
         SECTION 3.  The comptroller shall create and post on the
  Internet the Special Purpose District Public Information Database
  required by Section 403.0241, Government Code, as added by this
  Act, not later than January 1, 2018.
         SECTION 4.  Not later than January 1, 2018, the comptroller
  shall send written notice to each special purpose district
  described by Section 403.0241(b), Government Code, as added by this
  Act, that describes the changes in law made by this Act. Each
  special purpose district that receives notice shall submit to the
  comptroller any information required under Section 403.0241,
  Government Code, as added by this Act, or Section 203.062, Local
  Government Code, as added by this Act, not later than the 90th day
  after the date the district receives the notice.
         SECTION 5.  The changes in law made by this Act in Section
  403.0242(c), Government Code, apply only to a security submitted
  for review to the attorney general by an issuer on or after April 2,
  2018.  A security submitted for review to the attorney general by an
  issuer before April 2, 2018, is governed by the law in effect when
  the security is submitted, and the former law is continued in effect
  for that purpose.
         SECTION 6.  This Act takes effect September 1, 2017.
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