Regular Session
Cole Ranch Improvement District No. 1 Board of Directors • Texas Attorney General (Public Finance Division)
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This bill's path through the Texas Legislature
BILL ANALYSIS
| Senate Research Center | S.B. 3052 |
| 89R20600 JTZ-F | By: Parker |
| Local Government | |
| 5/2/2025 | |
| As Filed |
AUTHOR'S / SPONSOR'S STATEMENT OF INTENT
Cole Ranch Improvement District No. 1 of Denton County, Texas (district), was created in 2019 by the Texas Legislature. S.B. 3052 proposes to amend the district's powers and authority related to the issuance of bonds.
The bill clarifies that bonds secured by ad valorem taxes may not exceed 10 percent of the assessed value of all real property in the district. The bill also clarifies that the outstanding principal amount of bonds secured by certain contract payments in the aggregate may not exceed 10 percent of the assessed value of all real property in all districts making payments under the contract.
As proposed, S.B. 3052 amends current law relating to the powers and duties and validating certain acts and proceedings of the Cole Ranch Improvement District No. 1 of Denton County, Texas.
RULEMAKING AUTHORITY
This bill does not expressly grant any additional rulemaking authority to a state officer, institution, or agency.
SECTION BY SECTION ANALYSIS
SECTION 1. Amends Section 3981.0503, Special District Local Laws Code, by amending Subsection (c) and adding Subsection (d), as follows:
(c) Prohibits the principal amount of bonds secured by ad valorem taxes issued by the Cole Ranch Improvement District No. 1 of Denton County, Texas (district), in aggregate from exceeding 10 percent of the assessed value of all real property in the district.
(d) Prohibits the outstanding principal amount of bonds secured by contract payments meeting the requirements of Section 3981.0504(2) (relating to authorizing the district to issue bonds secured by contract payments if certain requirements are met) issued by the district in the aggregate from exceeding an amount equal to 10 percent of the assessed value of all real property in all districts making payments under the contract.
SECTION 2. (a) Provides that the legislature validates and confirms all governmental acts and proceedings of the district that were taken before the effective date of this Act.
(b) Provides that this section does not apply to any matter that on the effective date of this Act is involved in litigation if the litigation ultimately results in the matter being held invalid by a final court judgment or has been held invalid by a final court judgment.
SECTION 3. Provides that the district retains all the rights, powers, privileges, authority, duties, and functions that it had before the effective date of this Act.
SECTION 4. Provides that all requirements of the constitution and laws of this state and the rules and procedures of the legislature with respect to the notice, introduction, and passage of this Act are fulfilled and accomplished.
SECTION 5. Effective date: upon passage or September 1, 2025.
| S.B. No. 3052 | ||
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| relating to the powers and duties and validating certain acts and | ||
| proceedings of the Cole Ranch Improvement District No. 1 of Denton | ||
| County, Texas. | ||
| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
| SECTION 1. Section 3981.0503, Special District Local Laws | ||
| Code, is amended by amending Subsection (c) and adding Subsection | ||
| (d) to read as follows: | ||
| (c) The principal amount of bonds secured by ad valorem | ||
| taxes issued by the district in aggregate may not exceed 10 percent | ||
| of the assessed value of all real property in the district. | ||
| (d) The outstanding principal amount of bonds secured by | ||
| contract payments meeting the requirements of Section 3981.0504(2) | ||
| issued by the district in the aggregate may not exceed an amount | ||
| equal to 10 percent of the assessed value of all real property in | ||
| all districts making payments under the contract. | ||
| SECTION 2. (a) The legislature validates and confirms all | ||
| governmental acts and proceedings of the Cole Ranch Improvement | ||
| District No. 1 of Denton County, Texas, that were taken before the | ||
| effective date of this Act. | ||
| (b) This section does not apply to any matter that on the | ||
| effective date of this Act: | ||
| (1) is involved in litigation if the litigation | ||
| ultimately results in the matter being held invalid by a final court | ||
| judgment; or | ||
| (2) has been held invalid by a final court judgment. | ||
| SECTION 3. The Cole Ranch Improvement District No. 1 of | ||
| Denton County, Texas, retains all the rights, powers, privileges, | ||
| authority, duties, and functions that it had before the effective | ||
| date of this Act. | ||
| SECTION 4. (a) The legal notice of the intention to | ||
| introduce this Act, setting forth the general substance of this | ||
| Act, has been published as provided by law, and the notice and a | ||
| copy of this Act have been furnished to all persons, agencies, | ||
| officials, or entities to which they are required to be furnished | ||
| under Section 59, Article XVI, Texas Constitution, and Chapter 313, | ||
| Government Code. | ||
| (b) The governor, one of the required recipients, has | ||
| submitted the notice and Act to the Texas Commission on | ||
| Environmental Quality. | ||
| (c) The Texas Commission on Environmental Quality has filed | ||
| its recommendations relating to this Act with the governor, the | ||
| lieutenant governor, and the speaker of the house of | ||
| representatives within the required time. | ||
| (d) All requirements of the constitution and laws of this | ||
| state and the rules and procedures of the legislature with respect | ||
| to the notice, introduction, and passage of this Act are fulfilled | ||
| and accomplished. | ||
| SECTION 5. This Act takes effect immediately if it receives | ||
| a vote of two-thirds of all the members elected to each house, as | ||
| provided by Section 39, Article III, Texas Constitution. If this | ||
| Act does not receive the vote necessary for immediate effect, this | ||
| Act takes effect September 1, 2025. | ||
| TO: | Honorable Paul Bettencourt, Chair, Senate Committee on Local Government |
| FROM: | Jerry McGinty, Director, Legislative Budget Board |
| IN RE: | SB3052 by Parker (Relating to the powers and duties and validating certain acts and proceedings of the Cole Ranch Improvement District No. 1 of Denton County, Texas.), As Introduced |
| Source Agencies: |
| LBB Staff: | JMc, SZ, BC |
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Common questions about SB3052
SB3052 imposes a strict statutory debt ceiling on the Cole Ranch Improvement District No. 1, limiting bond principal to 10% of the assessed value of real property. This legislation immediately alters the financing landscape for developers and bondholders within the District by capping leverage and retroactively validating prior District proceedings to secure legal stability.
SB3052 was authored by Texas Senator Tan Parker during the Regular Session.
SB3052 was signed into law by Governor Greg Abbott on June 20, 2025.
SB3052 is enforced by Cole Ranch Improvement District No. 1 Board of Directors and Texas Attorney General (Public Finance Division).
The compliance urgency for SB3052 is rated as "low". Businesses and organizations should review the requirements and timeline to ensure timely compliance.
The cost impact of SB3052 is estimated as "low". This may vary based on industry and implementation requirements.
SB3052 addresses topics including cole ranch improvement district no. 1 of denton county, special districts & authorities, special districts & authorities--miscellaneous and bonds.
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