TX HB1453

Prohibits local governments from issuing anticipation notes or certificates of obligation for a purpose if voters rejected a bond proposition for the same purpose within the preceding five years (increased from three years for certificates)

Significantly narrows the definition of "public work" eligible for certificates of obligation to only streets, roads, bridges, landfills, airports, utilities, wharves, and flood control projects—removing public safety facilities, judicial buildings, administrative offices, libraries, parks, and stadiums

Restricts certificates of obligation issuance to specific circumstances: compliance with state/federal law after official notice of noncompliance, public health emergencies, natural disaster cleanup under a declared state of disaster, or court orders

Removes hospital districts from the definition of "issuer" eligible to issue certificates of obligation, limiting issuers to municipalities and counties only

Reduces the maximum certificate maturity period from 40 to 30 years, lowers change order certificate limits from 25% to 15%, requires contracts within 180 days of authorization, and lowers the petition threshold to trigger an election from 5% to 2% of registered voters