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TX SB2529
Bill
Status
5/6/2025
Primary Sponsor
Paul Bettencourt
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 a 75% supermajority vote of the governing body to adopt a tax rate exceeding the voter-approval rate in the tax year following a failed voter election on the same issue
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Applies the same 75% supermajority requirement to water districts seeking to adopt combined debt service, contract, and operation and maintenance tax rates above voter-approval thresholds after voters reject a tax rate proposition
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Effective date is January 1, 2026, applying to bonds authorized and tax years beginning on or after that date
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
Committee report sent to Calendars
5/22/2025