Bill Text: TX HB3918 | 2015-2016 | 84th Legislature | Introduced
Bill Title: Relating to private activity bonds.
Spectrum: Partisan Bill (Republican 2-0)
Status: (Introduced - Dead) 2015-04-08 - Left pending in committee [HB3918 Detail]
Download: Texas-2015-HB3918-Introduced.html
| By: Wray | H.B. No. 3918 | |
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| relating to private activity bonds. | ||
| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
| SECTION 1. Subchapter A, Chapter 1372, Government Code is | ||
| amended by adding Section 1372.007 as follows: | ||
| Sec. 1372.007. PROHIBITED USE OF BONDS. Notwithstanding | ||
| any other provision of this chapter, no bonds may be issued to | ||
| finance, in whole or in part, the construction or operation of an | ||
| electric railway as defined by Section 131.011 Transportation Code | ||
| or high speed rail as defined by Section 111.103(a) Transportation | ||
| Code, that is capable of operating at speeds greater than 100 miles | ||
| per hour, between two municipalities in this state. | ||
| SECTION 2. 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, 2015. | ||
