Tex. Government Code § 403.702 — TX Code / Code gv / Chapter 403 / Section 403.702
§ 403.702. LEGISLATIVE FINDINGS; PURPOSE.
Status: in_force

The legislature finds that:

(1) bitcoin and other cryptocurrencies are assets with strategic potential for enhancing this state's financial resilience;

(2) bitcoin and other cryptocurrencies can serve as a hedge against inflation and economic volatility; and

(3) the establishment of a strategic bitcoin reserve serves the public purpose of providing enhanced financial security to residents of this state.(a) The comptroller shall consult and coordinate with the Bond Review Board to develop and maintain a database of current and historical information regarding taxes imposed and bonds issued by each taxing unit in this state.

(b) The database must include the following:

(1) for each bond proposed or issued by a taxing unit:

(A) the language of the ballot proposition to approve the bond, if the bond was or will be submitted to the voters of the taxing unit at an election held for that purpose;

(B) the projected interest and sinking fund tax rate or projected tax rate for debt service, as applicable, associated with a proposed bond;

(C) the result of any election held for the purpose of approving the issuance of a proposed bond;

(D) a list of the projects to be funded using the bond;

(E) an accounting of the use of the proceeds of any issued bond, including a description of any project paid for with the proceeds;

(F) a description of any increase in the interest and sinking fund tax rate or tax rate for debt service, as applicable, resulting from the issuance of a bond; and

(G) an estimate of the minimum dollar amount required to be spent annually for debt service resulting from the issuance of a bond;

(2) the language of the ballot proposition and the result of any tax rate election held under Chapter 26, Tax Code, including:

(A) the taxing unit's adopted tax rate;

(B) the taxing unit's voter-approval tax rate;

(C) the difference between the adopted tax rate and the voter-approval tax rate for the taxing unit;

(D) the taxing unit's tax rate for the preceding tax year;

(E) the number of votes cast in the election in favor of the proposition and against the proposition; and

(F) if the proposition is not approved by the voters of the taxing unit, the taxing unit's tax rate for the tax year;

(3) for maintenance taxes levied or proposed by a school district:

(A) the school district's proposed or approved tax rate; and

(B) the language of the ballot proposition under Section 45.003(d), Education Code;

(4) a report generation function that allows the comptroller to generate a report of the information described by Subdivisions (1) through (3) for each taxing unit, disaggregated by geographic area within the taxing unit; and

(5) a function that allows for the proposal of updates or corrections to the information contained in the database.

(c) For the purpose of Subsection (b)(1), a taxing unit shall provide to the comptroller data for each proposed bond independent of any other proposed bond, bond refinancing, or ad valorem tax rate change.

(d) By August 7 or as soon thereafter as practicable, a taxing unit shall provide to the comptroller the information described by Subsections (b)(1) through (3) for the current tax year and any other information requested by the comptroller for the purpose of maintaining the database.

(d-1) Not later than January 1, 2026, a taxing unit shall provide to the comptroller all available current and historical information described by Subsections (b)(1) through (3) for the 2015 through 2025 tax years. This subsection expires January 31, 2026.