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TX HB5303
Bill
Status
3/14/2025
Primary Sponsor
Ellen Troxclair
Click for details
AI Summary
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Requires at least 60% of a political subdivision's governing body to vote in favor of issuing general obligation bonds before they can be authorized
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Mandates an 80% supermajority vote of a taxing unit's governing body to adopt a tax rate exceeding the voter-approval tax rate in the year following a failed voter referendum on such a rate increase
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Applies the same 80% supermajority requirement to water districts seeking to adopt combined debt service, contract, and operation and maintenance tax rates that exceed voter-approval thresholds after voters rejected a tax rate proposition
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Applies to general obligation bonds authorized on or after January 1, 2026, and to tax years beginning on or after that date
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Takes effect January 1, 2026
Legislative Description
Relating to the vote required by the governing body of a taxing unit to adopt an ad valorem tax rate that exceeds the voter-approval tax rate or authorize the issuance of tax bonds.
Taxation
Last Action
Referred to Ways & Means
4/7/2025