Texas 2025 - 89th Regular

Texas Senate Bill SB2493 Compare Versions

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

Old	New	Differences
1	1	89R12883 MP-D
2	2	By: Bettencourt S.B. No. 2493
3	3
4	4
5	5
6	6
7	7	A BILL TO BE ENTITLED
8	8	AN ACT
9	9	relating to the text of ballot propositions for bond elections.
10	10	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
11	11	SECTION 1. Subchapter B, Chapter 1251, Government Code, as
12	12	added by Chapters 728 (H.B. 477) and 505 (S.B. 30), Acts of the 86th
13	13	Legislature, Regular Session, 2019, is reenacted to read as
14	14	follows:
15	15	SUBCHAPTER B. BALLOT FOR DEBT OBLIGATIONS ISSUED BY POLITICAL
16	16	SUBDIVISION
17	17	Sec. 1251.051. DEFINITIONS. In this subchapter:
18	18	(1) "Debt obligation" means a public security, as
19	19	defined by Section 1201.002, secured by and payable from ad valorem
20	20	taxes. The term does not include public securities that are
21	21	designated as self-supporting by the political subdivision issuing
22	22	the securities.
23	23	(2) "Debt obligation election order" means the order,
24	24	ordinance, or resolution ordering an election to authorize the
25	25	issuance of debt obligations.
26	26	(3) "Political subdivision" means a municipality,
27	27	county, school district, or special taxing district.
28	28	Sec. 1251.052. FORM. (a) The ballot for a measure seeking
29	29	voter approval of the issuance of debt obligations by a political
30	30	subdivision shall specifically state:
31	31	(1) a plain language description of the single
32	32	specific purposes for which the debt obligations are to be
33	33	authorized;
34	34	(2) the total principal amount of the debt obligations
35	35	to be authorized; and
36	36	(3) that taxes sufficient to pay the principal of and
37	37	interest on the debt obligations will be imposed.
38	38	(a-1) Each single specific purpose for which debt
39	39	obligations requiring voter approval are to be issued must be
40	40	printed on the ballot as a separate proposition. A proposition may
41	41	include as a specific purpose one or more structures or
42	42	improvements serving the substantially same purpose and may include
43	43	related improvements and equipment necessary to accomplish the
44	44	specific purpose.
45	45	(b) A political subdivision with at least 250 registered
46	46	voters on the date the governing body of the political subdivision
47	47	adopts the debt obligation election order must prepare a voter
48	48	information document for each proposition to be voted on at the
49	49	election. The political subdivision shall post the voter
50	50	information document in the same manner as a debt obligation
51	51	election order is required to be posted under Section 4.003(f),
52	52	Election Code, and may include the voter information document in
53	53	the debt obligation election order. The voter information document
54	54	must distinctly state:
55	55	(1) the language that will appear on the ballot;
56	56	(2) the following information formatted as a table:
57	57	(A) the principal of the debt obligations to be
58	58	authorized;
59	59	(B) the estimated interest for the debt
60	60	obligations to be authorized;
61	61	(C) the estimated combined principal and
62	62	interest required to pay on time and in full the debt obligations to
63	63	be authorized; and
64	64	(D) as of the date the political subdivision
65	65	adopts the debt obligation election order:
66	66	(i) the principal of all outstanding debt
67	67	obligations of the political subdivision;
68	68	(ii) the estimated remaining interest on
69	69	all outstanding debt obligations of the political subdivision,
70	70	which may be based on the political subdivision's expectations
71	71	relative to the interest due on any variable rate debt obligations;
72	72	and
73	73	(iii) the estimated combined principal and
74	74	interest required to pay on time and in full all outstanding debt
75	75	obligations of the political subdivision, which may be based on the
76	76	political subdivision's expectations relative to the interest due
77	77	on any variable rate debt obligations;
78	78	(3) the estimated maximum annual increase in the
79	79	amount of taxes that would be imposed on a residence homestead in
80	80	the political subdivision with an appraised value of $100,000 to
81	81	repay the debt obligations to be authorized, if approved, based
82	82	upon assumptions made by the governing body of the political
83	83	subdivision; and
84	84	(4) any other information that the political
85	85	subdivision considers relevant or necessary to explain the
86	86	information required by this subsection.
87	87	(c) The governing body of the political subdivision shall
88	88	identify in the voter information document the major assumptions
89	89	made in connection with the statement required by Subsection
90	90	(b)(3), including:
91	91	(1) the amortization of the political subdivision's
92	92	debt obligations, including outstanding debt obligations and the
93	93	proposed debt obligations;
94	94	(2) changes in estimated future appraised values
95	95	within the political subdivision; and
96	96	(3) the assumed interest rate on the proposed debt
97	97	obligations.
98	98	(d) A political subdivision that maintains an Internet
99	99	website shall provide the information described by Subsection (b)
100	100	on its website in an easily accessible manner beginning not later
101	101	than the 21st day before election day and ending on the day after
102	102	the date of the debt obligation election.
103	103	(e) This section provides the ballot proposition language
104	104	for an election to authorize the issuance of debt obligations by a
105	105	political subdivision. To the extent of a conflict between this
106	106	section and another law, this section controls.
107	107	SECTION 2. This Act takes effect immediately if it receives
108	108	a vote of two-thirds of all the members elected to each house, as
109	109	provided by Section 39, Article III, Texas Constitution. If this
110	110	Act does not receive the vote necessary for immediate effect, this
111	111	Act takes effect September 1, 2025.