Texas HB67 amends election requirements for issuing general obligation bonds and increasing ad valorem tax rates.

Texas HB67 amends the Election Code to require a supermajority vote for political subdivisions to issue general obligation bonds. It also modifies the notice requirements for elections on tax rate increases. If a proposed tax rate exceeds the no-new-revenue tax rate and the voter-approval tax rate, the taxing unit must hold an election. If at least two-thirds of the voters approve the tax rate, it becomes effective.

Texas HB67 amends election requirements for issuing general obligation bonds and increasing ad valorem tax rates.

Texas HB67 amends the Election Code to require a supermajority vote for political subdivisions to issue general obligation bonds. It also modifies the notice requirements for elections on tax rate increases. If a proposed tax rate exceeds the no-new-revenue tax rate and the voter-approval tax rate, the taxing unit must hold an election. If at least two-thirds of the voters approve the tax rate, it becomes effective.