Texas SB2529 mandates supermajority votes for tax rate increases and bond issuances by taxing units.

The bill Texas SB2529 amends the Government Code to require a supermajority vote of at least 80% for the governing body of a taxing unit to adopt an annual tax rate exceeding the voter-approval tax rate after a failed election. It also mandates that a taxing unit cannot adopt a combined debt service, contract, and operation and maintenance tax rate exceeding the voter-approval tax rate unless at least 80% of the board members vote in favor.

Texas SB2529 mandates supermajority votes for tax rate increases and bond issuances by taxing units.

The bill Texas SB2529 amends the Government Code to require a supermajority vote of at least 80% for the governing body of a taxing unit to adopt an annual tax rate exceeding the voter-approval tax rate after a failed election. It also mandates that a taxing unit cannot adopt a combined debt service, contract, and operation and maintenance tax rate exceeding the voter-approval tax rate unless at least 80% of the board members vote in favor.