Bill > HB1453

This bill modifies Texas state law regarding how local governments can issue anticipation notes and certificates of obligation, which are financial instruments used to fund public works projects. The bill makes several key changes, including narrowing the definition of "eligible countywide district" by removing references to hospital districts, establishing new restrictions and conditions for issuing anticipation notes and certificates of obligation, and expanding the purposes for which these financial instruments can be used. Specifically, local governments can now issue these notes for public works projects necessary to comply with state or federal laws, mitigate public health emergencies, clean up after natural disasters, or comply with court orders. The bill also reduces the percentage of change orders that can be funded through certificates from 25% to 15%, lowers the voter petition threshold for challenging certificate issuance from 5% to 2% of registered voters, reduces the maximum maturity period for certificates from 40 to 30 years, and extends the prohibition on issuing certificates after a failed bond proposition from three to five years. The changes will apply only to anticipation notes and certificates issued on or after September 1, 2025, and are designed to provide local governments with more flexible but still controlled financial tools for public infrastructure and emergency response.

Labor and Employment

https://capitol.texas.gov/BillLookup/History.aspx?LegSess=89R&Bill=HB1453