TX SB3053

Amends Section 3980.0503 of the Special District Local Laws Code to clarify that the 10% bond limit applies specifically to bonds secured by ad valorem taxes

Creates a new subsection establishing that bonds secured by contract payments may not exceed 10% of the assessed value of all real property in all districts making payments under the contract

Validates and confirms all governmental acts and proceedings of Hunter Ranch Improvement District No. 1 taken before the effective date, except for matters held invalid by final court judgment

Preserves all existing rights, powers, privileges, authority, duties, and functions the district had prior to the Act

Takes effect immediately upon receiving two-thirds vote in both chambers, otherwise takes effect September 1, 2025