Bill > HB3835

This bill modifies the requirements for issuing general obligation bonds (GOBs) by political subdivisions in Texas, increasing the voter approval threshold from a simple majority to a supermajority. Specifically, the bill requires that at least 60 percent of voters must vote in favor of issuing general obligation bonds at a special election, rather than the traditional 50 percent plus one vote. This change means that political subdivisions like cities, counties, or special districts will need a significantly higher level of voter support to authorize new bond debt. The new requirement will apply only to general obligation bonds authorized on or after September 1, 2025, giving political subdivisions and voters advance notice of the new standard. General obligation bonds are a type of municipal debt typically used to fund large public infrastructure projects like roads, buildings, or utilities, and are backed by the full faith and credit of the issuing government entity, meaning taxpayers can be assessed to repay the bonds if other revenue sources are insufficient.

Labor and Employment

https://capitol.texas.gov/BillLookup/History.aspx?LegSess=89R&Bill=HB3835