TITLE: Relating to the posting of annual financial information on public Internet websites by certain transportation-related entities.

SUMMARY: Relating to the posting of annual financial information on public Internet websites by certain transportation-related entities.

FULL TEXT:
AN ACT relating to the posting of annual financial information on public Internet websites by certain transportation-related entities. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: SECTION 1. Subchapter A, Chapter 372, Transportation Code, is amended by adding Section 372.002 to read as follows: Sec. 372.002. ANNUAL ONLINE FINANCIAL REPORT. A toll project entity shall post an annually updated financial report on its public Internet website. The report shall include detailed financial information, including: (1) financial statements from each of the entity's departments, including budgeted and actual expenditures; and (2) information on all contracts, including contract amounts and expenditures. SECTION 2. The heading to Section 451.460, Transportation Code, is amended to read as follows: Sec. 451.460. ANNUAL REPORT:CERTAIN AUTHORITIES.SECTION 3. Subchapter J, Chapter 451, Transportation Code, is amended by adding Section 451.461 to read as follows: Sec. 451.461. ANNUAL ONLINE FINANCIAL REPORT. An authority shall post an annually updated financial report on its public Internet website. The report shall include detailed financial information, including: (1) financial statements from each of the authority's departments, including budgeted and actual expenditures; and (2) information on all contracts, including contract amounts and expenditures. SECTION 4. Subchapter J, Chapter 452, Transportation Code, is amended by adding Section 452.458 to read as follows: Sec. 452.458. ANNUAL ONLINE FINANCIAL REPORT. An authority shall post an annually updated financial report on its public Internet website. The report shall include detailed financial information, including: (1) financial statements from each of the authority's departments, including budgeted and actual expenditures; and (2) information on all contracts, including contract amounts and expenditures. SECTION 5. Subchapter B, Chapter 453, Transportation Code, is amended by adding Section 453.062 to read as follows: Sec. 453.062. ANNUAL ONLINE FINANCIAL REPORT. A transit department shall post an annually updated financial report on the transit department's public Internet website. The report shall include detailed financial information, including: (1) financial statements from each of the transit department's divisions, including budgeted and actual expenditures; and (2) information on all transit department contracts, including contract amounts and expenditures. SECTION 6. Subchapter B, Chapter 457, Transportation Code, is amended by adding Section 457.059 to read as follows: Sec. 457.059. ANNUAL ONLINE FINANCIAL REPORT. An authority shall post an annually updated financial report on its public Internet website. The report shall include detailed financial information, including: (1) financial statements from each of the authority's departments, including budgeted and actual expenditures; and (2) information on all contracts, including contract amounts and expenditures. SECTION 7. Subchapter F, Chapter 460, Transportation Code, is amended by adding Section 460.407 to read as follows: Sec. 460.407. ANNUAL ONLINE FINANCIAL REPORT. An authority shall post an annually updated financial report on its public Internet website. The report shall include detailed financial information, including: (1) financial statements from each of the authority's departments, including budgeted and actual expenditures; and (2) information on contracts, including contract amounts and expenditures. SECTION 8. Subchapter D, Chapter 472, Transportation Code, is amended by adding Section 472.035 to read as follows: Sec. 472.035. ANNUAL ONLINE FINANCIAL REPORT. A policy board shall post an annually updated financial report on the metropolitan planning organization's public Internet website. The report shall include detailed financial information, including: (1) financial statements from each of the metropolitan planning organization's departments, including budgeted and actual expenditures; and (2) information on all metropolitan planning organization contracts, including contract amounts and expenditures. SECTION 9. This Act takes effect September 1, 2011.