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TX HB3643
Bill
Status
3/3/2025
Primary Sponsor
Ellen Troxclair
Click for details
AI Summary
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Reduces the waiting period between withdrawal elections from five years to two years for units of election seeking to leave metropolitan rapid transit authorities
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Changes the calculation method for net financial obligations for small withdrawn units (those with 2% or less of the authority's total population) to equal only the fair market value of authority property remaining in the unit after withdrawal
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Maintains the standard net financial obligation formula for larger units: gross obligations (apportioned share of outstanding authority obligations plus unit-specific obligations) minus the unit's share of unencumbered liquid assets
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Requires transit authorities to annually estimate and report each unit of election's net financial obligation by July 1 of each year
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Takes effect immediately with two-thirds legislative vote, otherwise September 1, 2025
Legislative Description
Relating to the withdrawal of a unit of election from certain metropolitan rapid transit authorities and the net financial obligation of that withdrawal.
Elections
Last Action
Left pending in subcommittee
4/28/2025