Bill > SB2490

This bill, known as the Certificate of Obligation Reform Act of 2023, amends sections of the Local Government Code related to the issuance of certificates of obligation by local governments. The key provisions include: defining "public work" to include various infrastructure projects, limiting the purposes for which certificates can be authorized, capping the percentage increase in contractual obligations, allowing municipalities to issue certificates for water and sewer capacity projects, and reducing the petition threshold for voter approval. Additionally, the bill repeals a section related to certificates for the restoration of historic structures and provides that the changes apply to certificates issued on or after the effective date.

Government Affairs

https://capitol.texas.gov/BillLookup/History.aspx?LegSess=88R&Bill=SB2490