HB 354: Public Officials
New income tax on income in excess of $150,000 will be imposed through this bill. The Department of Revenue has the authority to designate agents or outside counsel that is outside the state for the purpose of collecting this tax from non-residents. Bonds or other securities may be required to ensure the faithful performance of their collection duties. Taxpayers may be required to post a bond or other security if an extension is granted to pay the tax.
SB 197: Miscellaneous Bond – Vehicle Inspections
A $500 surety bond will be required in connection with certification as a vehicle inspection station or as a vehicle inspector under this bill. The bond is put in place to ensure compliance with the applicable law. Previous legislation failed in 2009.
SB 141/HB 1222: License Bond – Debt Management Service Providers
This will enact the uniform Debt Management Services Act of the National Conference of Commissioners on Uniform State Laws. Debt management service providers must register and post a $50,000 surety bond through this bill. The amount of the bond is determined by the Consumer Credit Commissioner basing the amount on certain conditions of the provider. The surety company issuing the bond must be “A” rated from a nationally recognized rating service and must be licensed in that state. The bond was created for the states benefit and individuals who enter into agreements with the provider. The bond will need to be in effect for an additional two years after the registrant stops performing debt management services in Texas.
SB 136: Subdivision Bond
The existing bond requirements for a subdivision bonds will be revised through this bill. This will be to expand the bond’s coverage and increase the amount required. Through current law the Commissioner’s Court requires a bond where the amount must sufficient to secure the construction of the roads, streets and drainage requirements, but not to exceed to the estimated cost of construction. Under the new bill the bond amount would be based upon the costs of other infrastructures such as water supply and sewage systems.
SB 77: Miscellaneous Bond – Food Programs
A surety bond might need to be posted by food program sponsoring organizations. This would be in order to participate in a child and adult day care food program. These organizations are private non-profit that administer a food program in a child or adult day care home or center. The programs are federal programs which are administered by the states. The bond would have to be posted to the Texas Health and Human Services Commission where they would determine the amount and rules. Under existing federal regulations and law permit the states to require a bond from sponsoring organizations in connection with the program. The bond must be from a surety company listed in the U.S. Department of Treasury’s Circular 570. That is in accordance with the federal regulations concerning this program.