Bill Text: TX SB625 | 2017-2018 | 85th Legislature | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Relating to public access to financial and tax rate information of certain special purpose districts; imposing a civil penalty.

Spectrum: Partisan Bill (Republican 3-0)

Status: (Passed) 2017-06-09 - Effective on 9/1/17 [SB625 Detail]

Download: Texas-2017-SB625-Introduced.html

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85R6264 JXC-D
By: Kolkhorst S.B. No. 625

A BILL TO BE ENTITLED
AN ACT
relating to public access to financial and tax rate information of
certain special purpose districts.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Subchapter B, Chapter 403, Government Code, is
amended by adding Sections 403.0241 and 403.0242 to read as
follows:
Sec. 403.0241. SPECIAL PURPOSE DISTRICT PUBLIC INFORMATION
DATABASE. (a) In this section:
(1) "Special purpose district" means a political
subdivision of this state with geographic boundaries that define
the subdivision's territorial jurisdiction. The term does not
include a municipality, county, junior college district,
independent school district, or political subdivision with
statewide jurisdiction.
(2) "Tax year" has the meaning assigned by Section
1.04, Tax Code.
(b) The comptroller shall create and make accessible on the
Internet a database, to be known as the Special Purpose District
Public Information Database, that contains information regarding
all active special purpose districts of this state that are
authorized by the state by a general or special law to impose an ad
valorem tax or a sales and use tax, to impose an assessment, or to
charge a fee.
(c) For each special purpose district described by
Subsection (b), the database must include:
(1) the name of the special purpose district;
(2) the name of each board member or employee of the
special purpose district;
(3) the name of each attorney who represents the
district;
(4) contact information for the main office of the
special purpose district, including the physical address, the
mailing address, and the main telephone number;
(5) the special purpose district's Internet website
address, if any;
(6) the information the special purpose district is
required to report under Section 140.008(b) or (g), Local
Government Code, including any revenue obligations;
(7) the total annual revenue of the special purpose
district, including bond proceeds and grants;
(8) the amount of money in the special purpose
district's possession on the last day of the most recently
completed fiscal year, including a statement of the balance in each
of its accounts at the end of that fiscal year;
(9) the rate of any sales and use tax the special
purpose district imposes; and
(10) the table of ad valorem tax rates for the most
recent tax year described by Section 26.16, Tax Code, in the form
required by that section.
(d) The comptroller may consult with the appropriate
officer of, or other person representing, each special purpose
district to obtain the information necessary to operate and update
the database.
(e) To the extent information required in the database is
otherwise collected or maintained by a state agency or special
purpose district, the comptroller may request and the state agency
or special purpose district shall provide that information and
updates to the information as necessary for inclusion in the
database.
(f) The comptroller shall update information in the
database at least annually.
(g) The comptroller may not charge a fee to the public to
access the database.
(h) The comptroller may establish procedures and adopt
rules to implement this section.
Sec. 403.0242. SPECIAL PURPOSE DISTRICT NONCOMPLIANCE
LIST. (a) The comptroller shall prepare and maintain a
noncompliance list of special purpose districts that have not
complied with a requirement to provide information under Section
403.0241 or Section 203.062, Local Government Code.
(b) If a special purpose district does not comply with a
requirement to provide information under Section 403.0241 or
Section 203.062, Local Government Code, the comptroller shall
notify the person listed as the contact for the district. The
notice must be in writing, describe the information that must be
submitted to the comptroller, and inform the special purpose
district that the district will be placed on the noncompliance list
if the required information is not provided.
(c) The attorney general may not approve a public security
submitted under Chapter 1202 by a special purpose district that
appears on the noncompliance list until the attorney general
receives written notification from the comptroller that the
comptroller:
(1) has received the required information; or
(2) has agreed to a later date for the special purpose
district to submit the information.
SECTION 2. Chapter 203, Local Government Code, is amended
by adding Subchapter D to read as follows:
SUBCHAPTER D. RECORDS AND INFORMATION PROVIDED TO COMPTROLLER
Sec. 203.061. APPLICABILITY OF SUBCHAPTER. This subchapter
applies only to a special purpose district described by Section
403.0241(b), Government Code.
Sec. 203.062. PROVISION OF CERTAIN RECORDS AND OTHER
INFORMATION TO COMPTROLLER. (a) A special purpose district shall
transmit records and other information to the comptroller annually
for purposes of providing the comptroller with information to
operate and update the Special Purpose District Public Information
Database under Section 403.0241, Government Code.
(b) The special purpose district may comply with Subsection
(a) by transmitting an affidavit affirming that records and other
information previously transmitted are current.
(c) The special purpose district shall transmit the records
and other information in a form and in the manner prescribed by the
comptroller.
SECTION 3. The comptroller shall create and post on the
Internet the Special Purpose District Public Information Database
required by Section 403.0241, Government Code, as added by this
Act, not later than January 1, 2018.
SECTION 4. Not later than January 1, 2018, the comptroller
shall send written notice to each special purpose district
described by Section 403.0241(b), Government Code, as added by this
Act, that describes the changes in law made by this Act. Each
special purpose district that receives notice shall submit to the
comptroller any information required under Section 403.0241,
Government Code, as added by this Act, or Section 203.062, Local
Government Code, as added by this Act, not later than the 90th day
after the date the district receives the notice.
SECTION 5. The changes in law made by this Act in Section
403.0242(c), Government Code, apply only to a security submitted
for review to the attorney general by an issuer on or after April 2,
2018. A security submitted for review to the attorney general by an
issuer before April 2, 2018, is governed by the law in effect when
the security is submitted, and the former law is continued in effect
for that purpose.
SECTION 6. This Act takes effect September 1, 2017.