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AN ACT
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relating to the pledge of advanced transportation district sales |
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and use taxes to certain bonds. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 451.702, Transportation Code, is amended |
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by amending Subsections (a) and (l) and adding Subsection (l-1) to |
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read as follows: |
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(a) The board of an authority in which the sales and use tax |
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is imposed at a rate of one-half of one percent and in which the |
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principal municipality has a population of more than 1.3 million |
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[700,000] may order an election to create an advanced |
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transportation district within the authority's boundaries and to |
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impose a sales and use tax for advanced transportation and mobility |
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enhancement under this subchapter. If approved at the election, |
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the rate of the sales and use tax for advanced transportation and |
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mobility enhancement shall be set by the governing body of the |
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district at a rate of: |
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(1) one-eighth of one percent; |
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(2) one-fourth of one percent; |
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(3) three-eighths of one percent; or |
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(4) one-half of one percent. |
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(l) Notwithstanding any other provision of this chapter, |
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the [The] governing body of a [the] district may, by order or |
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resolution, without the necessity of an election specifically |
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concerning the matter: |
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(1) pledge the sales and use tax proceeds identified |
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in Subsection (f) from a sales and use tax imposed by an election |
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held under this section after May 21, 1999, to one or more series of |
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sales and use tax revenue bonds issued under Subchapter H, subject |
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to Subsection (l-1); and |
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(2) enter into an agreement or contractual arrangement |
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under Subsection (k) [without the necessity of an election]. |
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(l-1) The governing body of a district may not pledge sales |
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and use tax proceeds under Subsection (l) unless the board has |
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conducted a public hearing concerning the issuance of the bonds to |
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which the proceeds are pledged and published notice of the hearing |
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at least 14 days before the date of the hearing in a newspaper of |
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general circulation in the principal municipality of the authority. |
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SECTION 2. This Act takes effect September 1, 2011. |
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______________________________ |
______________________________ |
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President of the Senate |
Speaker of the House |
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I certify that H.B. No. 2396 was passed by the House on May 5, |
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2011, by the following vote: Yeas 125, Nays 21, 1 present, not |
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voting; and that the House concurred in Senate amendments to H.B. |
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No. 2396 on May 25, 2011, by the following vote: Yeas 97, Nays 45, |
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2 present, not voting. |
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______________________________ |
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Chief Clerk of the House |
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I certify that H.B. No. 2396 was passed by the Senate, with |
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amendments, on May 23, 2011, by the following vote: Yeas 28, Nays |
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2 |
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______________________________ |
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Secretary of the Senate |
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APPROVED: __________________ |
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Date |
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__________________ |
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Governor |