| Old | New | Differences | |
|---|---|---|---|
| 1 | 1 | 89R10347 JBD-D | |
| 2 | 2 | By: Bettencourt S.B. No. 1501 | |
| 3 | 3 | ||
| 4 | 4 | ||
| 5 | 5 | ||
| 6 | 6 | ||
| 7 | 7 | A BILL TO BE ENTITLED | |
| 8 | 8 | AN ACT | |
| 9 | 9 | relating to the allocation of proceeds from the issuance of general | |
| 10 | 10 | obligation bonds by political subdivisions. | |
| 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. ALLOCATION OF PROCEEDS. A political | |
| 15 | 15 | subdivision shall allocate the proceeds from the issuance of | |
| 16 | 16 | general obligation bonds authorized by the voters in the percentage | |
| 17 | 17 | or amount stated in the ballot proposition to authorize the | |
| 18 | 18 | issuance. | |
| 19 | 19 | SECTION 2. This Act takes effect September 1, 2025. |