TX SB393

Prohibits political subdivisions (counties, municipalities, school districts, and other special districts) from issuing public securities to purchase or lease tangible personal property if the property's expected useful life for depreciation purposes ends before the security's maturity date

Expands existing restrictions on debt issuance to include certificates of obligation and anticipation notes, in addition to general obligation bonds

Restricts political subdivisions from issuing bonds, certificates of obligation, or anticipation notes for real property improvements if the weighted average maturity exceeds 120% of the reasonably expected weighted average economic life of those improvements

Removes previous provisions that allowed consideration of personal property when calculating the weighted average economic life for real property improvement bonds

Takes effect September 1, 2025