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TX HB4295
Bill
Status
3/11/2025
Primary Sponsor
Matthew Shaheen
Click for details
AI Summary
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Prohibits political subdivisions (cities, counties, districts, etc.) from issuing public securities if their debt-to-asset ratio is 20 percent or more
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Adds new Section 1253.004 to the Government Code establishing this debt limitation requirement
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Expands Chapter 1253's scope from covering only "general obligation bonds" to all "public securities" issued by political subdivisions
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Applies only to public securities issued on or after the effective date of September 1, 2025
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Existing securities issued before the effective date are not affected by the new debt ratio restriction
Legislative Description
Relating to the authority of a political subdivision to issue a public security if the debt-to-asset ratio of the political subdivision exceeds a certain percentage.
Taxation
Last Action
Referred to Pensions, Investments & Financial Services
4/1/2025