H.B. No. 3526 aims to enhance fiscal transparency for bonds issued by local governmental entities in Texas. The bill amends Section 1202.008(c) of the Government Code to require the attorney general to send information to the Bond Review Board for inclusion in reports mandated by Sections 1231.062 and 1231.065. Additionally, it introduces new sections under Subchapter B of Chapter 1231, which mandate the creation of a publicly accessible and searchable database for local bond obligations, detailed reporting requirements for local governments before and after bond elections, and an annual report on unissued securities.

The bill also establishes a biennial report on the repayment status of voter-approved bonds issued by local governments, which must be submitted to legislative committees. This report will include details such as the total amount required to pay the principal and interest on each bond, the amounts already paid, and any necessary tax rate increases to meet these obligations. The Bond Review Board is tasked with implementing these provisions, with a deadline to establish the database by September 1, 2026. The act is set to take effect on September 1, 2025.

Statutes affected:
Introduced: Government Code 1202.008 (Government Code 1202)
House Committee Report: Government Code 1202.008 (Government Code 1202)
Engrossed: Government Code 1202.008 (Government Code 1202)
Senate Committee Report: Government Code 1202.008 (Government Code 1202)
Enrolled: Government Code 1202.008 (Government Code 1202)