Bill > HB3526

This bill enhances fiscal transparency for local government bond issuances by creating several new reporting requirements for the Texas Bond Review Board. The board will be required to develop and maintain a publicly accessible, searchable online database that provides detailed information about local bond proposals and issuances, including principal amounts, estimated interest, total payment costs, and annual debt service requirements. Local governments must now submit comprehensive reports before and after bond elections, detailing election results, proposition details, and voter approval information. Additionally, local governments with voter-approved but unissued bonds must submit an annual report by September 30th explaining the status of those unissued bonds. The bill also mandates that the Bond Review Board prepare a biennial report for legislative committees, which will provide detailed information about each voter-approved bond, including total amounts paid, future debt service requirements, and any necessary tax rate increases to support bond repayment. The database must be established by September 1, 2026, and the entire act will take effect on September 1, 2025, with the goal of increasing transparency and providing legislators and the public with more comprehensive information about local government bond financing.

Government Affairs, Labor and Employment

https://capitol.texas.gov/BillLookup/History.aspx?LegSess=89R&Bill=HB3526