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Texas Constitution:Article III, Section 49-d-4: Difference between revisions
Texas Constitution:Article III, Section 49-d-4 (view source)
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'''(f) Except on a two-thirds vote of the members elected to each House of the Legislature, the state agency administering the bond insurance program may not authorize bond insurance coverage under the program in any state fiscal year that exceeds a total of $100 million.''' | '''(f) Except on a two-thirds vote of the members elected to each House of the Legislature, the state agency administering the bond insurance program may not authorize bond insurance coverage under the program in any state fiscal year that exceeds a total of $100 million.''' | ||
'''(g) Unless authorized to continue by a two-thirds vote of the members elected to each House, this section and the bond insurance program authorized by this section expire on the sixth anniversary of the date on which this section becomes a part of the | '''(g) Unless authorized to continue by a two-thirds vote of the members elected to each House, this section and the bond insurance program authorized by this section expire on the sixth anniversary of the date on which this section becomes a part of the Constitution. However, bond insurance issued before the expiration of this section and the program is not affected by the expiration of this section and the program and remains in effect according to its terms, and the State is required to fulfill all of the terms of that previously issued insurance.''' | ||
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[[Category:Water Law]] | |||
[[Category:TxCon ArtIII Sec]] | [[Category:TxCon ArtIII Sec]] | ||