TX SB2519

Prohibits taxing units from using increased maintenance and operations tax revenue approved through voter elections to repay public securities through local government corporations, whether in installment payments or otherwise

Bars municipalities, counties, and local government corporations from dedicating, pledging, or using revenue derived wholly or partly from ad valorem taxes approved in elections under Tax Code Chapter 26 to secure or make payments on public securities

Renames Government Code Chapter 1253 from "General Obligation Bonds Issued by Political Subdivisions" to "Public Securities Issued by Local Entities" to reflect the broader scope of restrictions

Applies only to public securities issued on or after the effective date of the Act, grandfathering existing securities

Takes effect immediately with a two-thirds vote of both legislative chambers, or September 1, 2025, without such a vote