PART 1.COMPTROLLER OF PUBLIC ACCOUNTS
CHAPTER 1. CENTRAL ADMINISTRATION
SUBCHAPTER A. PRACTICE AND PROCEDURES
DIVISION 2. LEGAL SERVICES BOND DIVISION
(Editor's note: The text of the following sections proposed for repeal will not be published. The sections may be examined in the offices of the Comptroller of Public Accounts or in the Texas Register office, Room 245, James Earl Rudder Building, 1019 Brazos Street, Austin.)
The Comptroller of Public Accounts proposes the repeal of §1.53, concerning bonds of school districts and junior colleges, and §1.57, concerning expenses incurred during registration outside of Austin. These sections are being repealed to reflect changes in practice. The proposed repeals are a result of a rules review of Texas Administrative Code, Title 34, Part 1, Chapter 1, Subchapter A, Division 2, conducted by the comptroller. The rules review was performed under Government Code, §2001.039, and concluded that the reasons for adopting the rules no longer exist.
John Heleman, Chief Revenue Estimator, has determined that for the first five-year period the rule will be in effect, there will be no significant revenue impact on the state or units of local government.
Mr. Heleman also has determined that for each year of the first five years the rule is in effect, the proposed repeal would benefit the public by removing obsolete references from the comptroller’s administrative rules relating to the registration of public securities. The proposed amendment would have no significant fiscal impart on small businesses. There is no significant anticipated economic cost to individuals who are required to comply with the proposed rule.
Comments on the repeals may be submitted to Tom Smelker, Director, Treasury Division, Rusk Building, 208 East 10th Street, Austin, Texas 78701-2407.
The repeals are proposed under Government Code, §1203.026 and §2001.039. Government Code, §1203.026, provides the comptroller with the authority to adopt rules for the registration of public securities. Government Code, §2001.039, authorizes a state agency to repeal rules that are no longer necessary as a result of a rule review performed under that section.
The repeals implement Government Code, §2001.039.
§1.53.Bonds of School Districts and Junior Colleges.
§1.57.Expenses Incurred During Registration Outside of Austin.
This agency hereby certifies that the proposal has been reviewed by legal counsel and found to be within the agency's legal authority to adopt.
Filed with the Office of the Secretary of State on July 31, 2008.
TRD-200803996
Martin Cherry
General Counsel
Comptroller of Public Accounts
Earliest possible date of adoption: September 14, 2008
For further information, please call: (512) 475-0387