TX HB1433

Requires political subdivisions (excluding school districts) that adopt property tax rates exceeding the no-new-revenue rate for five consecutive years to conduct an efficiency audit examining fiscal management and resource utilization

The five-year consecutive count begins with the 2022 tax year; years prior to 2022 are excluded from the calculation, with this provision expiring January 1, 2027

Political subdivisions in governor-declared disaster areas may hold voter elections to exceed the no-new-revenue rate during the two years following the declaration without triggering the audit requirement

The selected auditor must maintain independence from the political subdivision and complete the audit within three months of selection, with all costs paid by the political subdivision

Governing bodies must hold an open meeting to discuss audit results and post findings on the subdivision's website within 30 days of that meeting