TX HB1514

Prohibits political subdivisions (counties, municipalities, school districts, etc.) from issuing public securities to purchase or lease tangible personal property if the property's expected useful life for IRS depreciation purposes ends before the security's maturity date

Exempts financing related to critical infrastructure facilities from the restriction on tangible personal property securities

Expands existing limitations on general obligation bonds to also include certificates of obligation and anticipation notes when financing improvements to real property

Requires that the weighted average maturity of bonds, certificates, or notes issued for real property improvements cannot exceed 120% of the reasonably expected weighted average economic life of the improvements

Takes effect September 1, 2025