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A BILL TO BE ENTITLED
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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. Sections 451.702(a) and (l), Transportation |
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Code, are amended to 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 without the |
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necessity of an election specifically 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; 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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SECTION 2. This Act takes effect September 1, 2011. |