85R2826 MK-D
 
  By: Bettencourt S.B. No. 151
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  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.