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