The bill, H.B. No. 1453, amends various sections of the Government Code and Local Government Code regarding the issuance of anticipation notes and certificates of obligation by local governments, particularly focusing on flood control districts and municipalities. It redefines "eligible countywide district" to exclude hospital districts and introduces new restrictions on the authorization of anticipation notes. Specifically, a governing body may not authorize an anticipation note for a contractual obligation if a bond proposition for the same purpose was submitted to voters in the past five years and failed. However, exceptions are made for certain cases outlined in the Local Government Code.

Additionally, the bill modifies the conditions under which certificates can be issued, emphasizing that they may only be authorized to pay contractual obligations necessary for public works, such as compliance with laws or addressing public health emergencies. It also establishes new requirements for the governing body to enter into contracts for public works within a specified timeframe after authorizing the issuance of certificates. The bill repeals certain existing provisions and sets a future effective date of September 1, 2025, for the changes to take effect.

Statutes affected:
Introduced: Government Code 1431.001, Government Code 1431.002, Local Government Code 271.045, Local Government Code 271.0461, Local Government Code 271.047, Local Government Code 271.049, Local Government Code 271.0525, Local Government Code 271.057, Local Government Code 271.059, Local Government Code 271.046 (Local Government Code 271, Government Code 1431)