The bill, H.B. No. 3262, amends the Election Code and Government Code to establish a supermajority requirement for certain elections held by political subdivisions to authorize the issuance of bonds or other debt. Specifically, it mandates that at least two-thirds of voters must approve the proposition for the issuance of such debt. Additionally, the bill modifies the ballot requirements for these elections, ensuring that it includes a clear description of the specific purpose for the debt, the total principal amount, and the estimated combined principal and interest required to pay all outstanding debt obligations of the political subdivision.

Furthermore, the bill requires political subdivisions with at least 250 registered voters to prepare a voter information document that outlines key financial details related to the proposed debt obligations, including the estimated maximum annual tax increase for a residence homestead. The governing body must also identify major assumptions related to the financial projections in the document. The changes introduced by this bill will only apply to elections ordered on or after its effective date of September 1, 2025.

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