The bill, S.B. No. 1501, amends Chapter 1253 of the Government Code by adding a new section, 1253.004, which mandates that political subdivisions allocate the proceeds from the issuance of general obligation bonds according to the percentage or amount specified in the ballot proposition that authorized the issuance. This change aims to ensure transparency and adherence to voter intentions regarding the use of bond proceeds.

The bill is set to take effect on September 1, 2025, providing a clear framework for how political subdivisions must manage the funds raised through general obligation bonds, thereby reinforcing accountability in the allocation process.

Statutes affected:
Introduced: ()