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Senate committee advances bill requiring local governments and water districts to file financial statements before state loans or grants
Summary
The Senate Committee on Local Government adopted a committee substitute to Senate Bill 427 that conditions state loans and grants on local governments' timely financial reporting; it adds an exception for entities affected by a state-declared disaster and extends requirements to water districts.
The Senate Committee on Local Government on Wednesday adopted a committee substitute to Senate Bill 427 that would require many local governments to be current on annual financial statements before receiving state loans or grants.
Senator Hinojosa, who explained differences between the filed bill and the substitute, said the measure responds to situations in which local entities receive state funds without filing required financial statements. "Local governmental entities receive loans and grants from the state in…
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