The bill, S.B. No. 1501, proposes an amendment to Chapter 1253 of the Government Code regarding the allocation of proceeds from general obligation bonds issued by political subdivisions. It introduces a new section, 1253.004, which mandates that political subdivisions must allocate the proceeds from these bonds in accordance with the percentage or amount specified in the ballot proposition that authorized their issuance. This ensures that the allocation aligns with the voters' intentions as expressed during the approval process.

The bill is set to take effect on September 1, 2025, providing a clear framework for how proceeds from general obligation bonds should be managed by political subdivisions, thereby enhancing transparency and accountability in the use of public funds.

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