Texas HB1433 mandates efficiency audits for political subdivisions with tax rates exceeding no-new-revenue rates for five consecutive years.

Texas HB1433 amends the Local Government Code to require political subdivisions, excluding school districts, to undergo efficiency audits if they adopt ad valorem tax rates exceeding the no-new-revenue tax rate for five consecutive tax years. The audits examine fiscal management, efficiency, and resource utilization. Political subdivisions must cover the audit costs and ensure the auditor remains independent. The audit results must be posted on the subdivision's website within 30 days of an open meeting discussing the findings.

Texas HB1433 mandates efficiency audits for political subdivisions with tax rates exceeding no-new-revenue rates for five consecutive years.

Texas HB1433 amends the Local Government Code to require political subdivisions, excluding school districts, to undergo efficiency audits if they adopt ad valorem tax rates exceeding the no-new-revenue tax rate for five consecutive tax years. The audits examine fiscal management, efficiency, and resource utilization. Political subdivisions must cover the audit costs and ensure the auditor remains independent. The audit results must be posted on the subdivision's website within 30 days of an open meeting discussing the findings.