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TX SB3067
Bill
Status
N/A
Primary Sponsor
Paul Bettencourt
Click for details
AI Summary
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Prohibits taxing units from using increased maintenance and operations tax revenue derived from voter-approved tax rate elections to repay public securities through local government corporations
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Bars municipalities, counties, and local government corporations from dedicating, pledging, or using ad valorem tax revenue subject to annual appropriation to secure or make payments on public securities
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Applies only to public securities issued on or after the effective date of the Act, exempting existing bonds from the new restrictions
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Takes effect immediately upon receiving a two-thirds vote from both legislative chambers, or September 1, 2025, if the required supermajority is not achieved
Legislative Description
Relating to restrictions on the use of certain ad valorem taxes and on the issuance of certain bonds supported by ad valorem taxes.
Taxation
Last Action
Referred to Local Government
5/12/2025