The bill, H.B. No. 3262, amends the Election Code and Government Code of Texas to establish a supermajority requirement for certain elections held by political subdivisions to authorize the issuance of bonds or other debt. Specifically, it stipulates that at least two-thirds of voters must approve the proposition for the issuance of such debt. Additionally, the bill introduces a new subchapter in the Election Code that outlines the requirements for ballot measures related to debt obligations, including a detailed description of the purpose of the debt, the total principal amount, and the estimated combined principal and interest required to pay all outstanding debt obligations.

Furthermore, the bill mandates that political subdivisions with at least 250 registered voters prepare a voter information document for each proposition, which must include specific financial details and the estimated tax implications for residents. The governing body of the political subdivision is also required to identify major assumptions related to the proposed debt obligations in the voter information document. The changes enacted by this bill will apply only to elections ordered on or after its effective date of September 1, 2025.

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