Texas SB427 denies state loans or grants to political subdivisions that fail to file required annual financial reports.

Texas SB427 amends the Local Government Code to establish that political subdivisions failing to file or publish their annual financial statements or reports are ineligible for state loans or grants for the fiscal year in question. The bill defines "annual financial statement or report" as specific filings or publications required by law for municipalities, counties, and other political subdivisions. Each application for a state program must notify applicants of this requirement and mandate proof of compliance.

Texas SB427 denies state loans or grants to political subdivisions that fail to file required annual financial reports.

Texas SB427 amends the Local Government Code to establish that political subdivisions failing to file or publish their annual financial statements or reports are ineligible for state loans or grants for the fiscal year in question. The bill defines "annual financial statement or report" as specific filings or publications required by law for municipalities, counties, and other political subdivisions. Each application for a state program must notify applicants of this requirement and mandate proof of compliance.