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A BILL TO BE ENTITLED
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AN ACT
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relating to the use of federal funds by political subdivisions for |
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payment of the political subdivision's debt obligations. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Chapter 140, Local Government Code, is amended |
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by adding Section 140.012 to read as follows: |
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Sec. 140.012. USE OF FEDERAL FUNDS FOR PAYMENT OF DEBT |
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OBLIGATIONS. A political subdivision may not use federal funds to |
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make payments for a debt obligation of the political subdivision. |
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SECTION 2. Section 460.404(c), Transportation Code, is |
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repealed. |
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SECTION 3. This Act takes effect September 1, 2017. |