Texas 2025 - 89th Regular

Texas House Bill HB4965 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	89R14076 DNC-D
2	2	By: Schatzline H.B. No. 4965
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7	7	A BILL TO BE ENTITLED
8	8	AN ACT
9	9	relating to voter information provided by political subdivisions
10	10	before an election to authorize the issuance of bonds.
11	11	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
12	12	SECTION 1. Sections 1251.052(a) and (b), Government Code,
13	13	as added by Chapter 728 (H.B. 477), Acts of the 86th Legislature,
14	14	Regular Session, 2019, are amended to read as follows:
15	15	(a) The ballot for a measure seeking voter approval of the
16	16	issuance of debt obligations by a political subdivision shall
17	17	specifically state:
18	18	(1) a general description of the purposes for which
19	19	the debt obligations are to be authorized;
20	20	(2) the total principal amount of the debt obligations
21	21	to be authorized; [and]
22	22	(3) that taxes sufficient to pay the principal of and
23	23	interest on the debt obligations will be imposed; and
24	24	(4) the ad valorem debt service tax rate expressed in
25	25	dollars per $100 valuation of all taxable property in the political
26	26	subdivision, stated as:
27	27	(A) the existing rate;
28	28	(B) the estimated rate if the bonds are issued;
29	29	and
30	30	(C) the estimated percentage increase in the rate
31	31	if the bonds are issued.
32	32	(b) A political subdivision [with at least 250 registered
33	33	voters on the date the governing body of the political subdivision
34	34	adopts the debt obligation election order] must prepare a voter
35	35	information document for each proposition to be voted on at the
36	36	election. The political subdivision shall post the voter
37	37	information document in the same manner as a debt obligation
38	38	election order is required to be posted under Section 4.003(f),
39	39	Election Code, and may include the voter information document in
40	40	the debt obligation election order. The voter information
41	41	document must distinctly state:
42	42	(1) the language that will appear on the ballot;
43	43	(2) the following information formatted as a table:
44	44	(A) the principal of the debt obligations to be
45	45	authorized;
46	46	(B) the estimated interest for the debt
47	47	obligations to be authorized;
48	48	(C) the estimated combined principal and
49	49	interest required to pay on time and in full the debt obligations to
50	50	be authorized; and
51	51	(D) as of the date the political subdivision
52	52	adopts the debt obligation election order:
53	53	(i) the principal of all outstanding debt
54	54	obligations of the political subdivision;
55	55	(ii) the estimated remaining interest on
56	56	all outstanding debt obligations of the political subdivision,
57	57	which may be based on the political subdivision's expectations
58	58	relative to the interest due on any variable rate debt obligations;
59	59	and
60	60	(iii) the estimated combined principal and
61	61	interest required to pay on time and in full all outstanding debt
62	62	obligations of the political subdivision, which may be based on the
63	63	political subdivision's expectations relative to the interest due
64	64	on any variable rate debt obligations;
65	65	(3) the estimated maximum annual increase in the
66	66	amount of taxes that would be imposed on a property [residence
67	67	homestead in the political subdivision with an appraised value of
68	68	$100,000] to repay the debt obligations to be authorized, if
69	69	approved, based upon assumptions made by the governing body of the
70	70	political subdivision; and
71	71	(4) any other information that the political
72	72	subdivision considers relevant or necessary to explain the
73	73	information required by this subsection.
74	74	SECTION 2. Sections 1251.052(a) and (b), Government Code,
75	75	as amended by this Act, apply only to a bond election ordered on or
76	76	after January 1, 2027.
77	77	SECTION 3. This Act takes effect September 1, 2025.