Texas HB113 prohibits political subdivisions from proposing bond issuances rejected by voters in the past five years.

Texas HB113 amends Chapter 1253 of the Government Code to restrict political subdivisions from proposing the issuance of general obligation bonds if a similar proposition was rejected by voters within the preceding five years. The restriction applies to propositions submitted to voters for elections held after the effective date of this Act. The Act takes effect immediately if it receives a two-thirds vote in both legislative houses, otherwise it takes effect 91 days after the session's end.

Texas HB113 prohibits political subdivisions from proposing bond issuances rejected by voters in the past five years.

Texas HB113 amends Chapter 1253 of the Government Code to restrict political subdivisions from proposing the issuance of general obligation bonds if a similar proposition was rejected by voters within the preceding five years. The restriction applies to propositions submitted to voters for elections held after the effective date of this Act. The Act takes effect immediately if it receives a two-thirds vote in both legislative houses, otherwise it takes effect 91 days after the session's end.