| Old | New | Differences | |
|---|---|---|---|
| 1 | 1 | 89R9003 JBD-D | |
| 2 | 2 | By: Harrison H.B. No. 2574 | |
| 3 | 3 | ||
| 4 | 4 | ||
| 5 | 5 | ||
| 6 | 6 | ||
| 7 | 7 | A BILL TO BE ENTITLED | |
| 8 | 8 | AN ACT | |
| 9 | 9 | relating to the vote required to approve the issuance of general | |
| 10 | 10 | obligation bonds by a political subdivision. | |
| 11 | 11 | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | |
| 12 | 12 | SECTION 1. Chapter 1253, Government Code, is amended by | |
| 13 | 13 | adding Section 1253.004 to read as follows: | |
| 14 | 14 | Sec. 1253.004. SUPERMAJORITY VOTE OF VOTERS REQUIRED TO | |
| 15 | 15 | APPROVE GENERAL OBLIGATION BONDS. Notwithstanding any other law, a | |
| 16 | 16 | political subdivision may not issue general obligation bonds unless | |
| 17 | 17 | at least 60 percent of the voters at the election called to | |
| 18 | 18 | authorize the issuance vote in favor of the issuance. | |
| 19 | 19 | SECTION 2. Section 1253.004, Government Code, as added by | |
| 20 | 20 | this Act, applies only to general obligation bonds authorized to be | |
| 21 | 21 | issued by the governing body of a political subdivision on or after | |
| 22 | 22 | the effective date of this Act. | |
| 23 | 23 | SECTION 3. This Act takes effect September 1, 2025. |