Bill Text: TX SB295 | 2017-2018 | 85th Legislature | Enrolled

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Bill Title: Relating to the issuance of certain capital appreciation bonds by political subdivisions.

Spectrum: Bipartisan Bill

Status: (Passed) 2017-06-09 - Effective on 9/1/17 [SB295 Detail]

Download: Texas-2017-SB295-Enrolled.html

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S.B. No. 295

AN ACT
relating to the issuance of certain capital appreciation bonds by
political subdivisions.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 1201.0245(j), Government Code, is
amended to read as follows:
(j) This section [Subsection (b)] does not apply to the
issuance of:
(1) refunding bonds under Chapter 1207; or
(2) capital appreciation bonds for the purpose of
financing transportation projects.
SECTION 2. The change in law made by this Act does not apply
to a refunding bond or a capital appreciation bond issued before the
effective date of this Act.
SECTION 3. This Act takes effect September 1, 2017.
______________________________ ______________________________
President of the Senate Speaker of the House
I hereby certify that S.B. No. 295 passed the Senate on
April 25, 2017, by the following vote: Yeas 31, Nays 0.
______________________________
Secretary of the Senate
I hereby certify that S.B. No. 295 passed the House on
May 22, 2017, by the following vote: Yeas 127, Nays 16, two
present not voting.
______________________________
Chief Clerk of the House
Approved:
______________________________
Date
______________________________
Governor