HB 2574
AN ACT relating to the vote required to approve the issuance of general
89th Regular Session
Jan 14, 2025 - Jun 2, 2025 • Session ended
Awaiting Committee Assignment
Bill filed, pending referral to House committee
Committee
Not yet assigned
Fiscal Note
Not available
What This Bill Does
Requires political subdivisions to obtain approval from at least 60% of voters (instead of a simple majority) before issuing general obligation bonds. The new requirement means local governments will need a stronger voter mandate to take on new debt, making it more challenging to pass bond proposals. The law will apply to bond elections held on or after September 1, 2025, potentially impacting how local infrastructure and capital projects are funded.
Bill Text
relating to the vote required to approve the issuance of general obligation bonds by a political subdivision. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: SECTION 1. Chapter 1253, Government Code, is amended by adding Section 1253.004 to read as follows: Sec. 1253.004. SUPERMAJORITY VOTE OF VOTERS REQUIRED TO APPROVE GENERAL OBLIGATION BONDS. Notwithstanding any other law, a political subdivision may not issue general obligation bonds unless at least 60 percent of the voters at the election called to authorize the issuance vote in favor of the issuance. SECTION 2. Section 1253.004, Government Code, as added by this Act, applies only to general obligation bonds authorized to be issued by the governing body of a political subdivision on or after the effective date of this Act. SECTION 3. This Act takes effect September 1, 2025.
Bill History
Bill filed: AN ACT relating to the vote required to approve the issuance of general
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