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 stipulates that a political subdivision cannot submit 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 issue after it has already been declined.

The bill's provisions will only apply to propositions submitted to voters for which the election is ordered on or after the effective date of the Act. The Act will take effect immediately if it receives a two-thirds vote from all elected members in both houses; otherwise, it will become effective on the 91st day following the end of the legislative session.

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