H.B. No. 113 amends Chapter 1253 of the Government Code by adding Section 1253.0015, which establishes a limitation on the authority of political subdivisions to propose the issuance of general obligation bonds. Specifically, the bill prohibits a political subdivision from submitting a proposition for voter approval regarding the issuance of such bonds if a similar proposition for the same purpose was rejected by voters within the preceding five years. This change aims to prevent repeated attempts to secure voter approval for the same bond issuance that has already been declined.

The bill stipulates that the new limitation applies only to propositions submitted for elections ordered on or after the effective date of the Act. It also outlines the conditions for the Act's immediate effect, requiring a two-thirds vote from all elected members in both houses of the legislature; otherwise, the Act will take effect 91 days after the legislative session concludes.

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