H.B. No. 49 introduces a new provision in the Texas Election Code that prohibits individuals who contribute to certain political committees from receiving bond proceeds. Specifically, the bill adds Section 253.008, which states that any person who makes a contribution to a political committee that supports the issuance of a bond is barred from receiving any money, including payments for goods or services, from the proceeds related to that bond.

The new law is designed to ensure that contributions to political committees do not influence the allocation of bond proceeds, thereby promoting transparency and integrity in the political financing process. The provisions of this act will apply only to contributions made on or after its effective date, which will be immediate if it secures a two-thirds majority vote in both houses of the legislature; otherwise, it will take effect 91 days after the legislative session concludes.

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