Limits local government debt service to 10% of average property tax collections over three years.
The bill amends the Government Code to restrict political subdivisions from issuing additional debt if the resulting annual debt service exceeds a specified limit. The maximum annual debt service on debt payable from property taxes cannot exceed 10% of the average property tax collections for the three preceding fiscal years. This Act will take effect on the 91st day after the last day of the legislative session.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.