Bill > SB414

This bill modifies the requirements for ballot propositions related to debt obligations (bonds) in Texas political subdivisions like municipalities, counties, school districts, and special taxing districts. The bill requires ballots to provide more detailed financial information, including the total principal amount of proposed debt, estimated interest, and the combined principal and interest required to pay the debt in full. Ballots must now list each specific purpose for debt separately, and for political subdivisions with at least 250 registered voters, a voter information document must be prepared and posted. This document must include detailed financial information such as the principal and interest of both proposed and existing debt obligations, and an estimated maximum annual tax increase for a residence with a $100,000 appraisal. The bill aims to provide voters with more transparent and comprehensive information about proposed bond elections, helping them better understand the potential financial impact. The changes will apply to elections ordered on or after the bill's effective date of September 1, 2025.

Government Affairs, Labor and Employment

https://capitol.texas.gov/BillLookup/History.aspx?LegSess=89R&Bill=SB414