The bill amends various sections of the Government and Local Government Codes to modify the regulations surrounding the issuance of anticipation notes and certificates of obligation by certain local governments, specifically flood control districts and municipalities. Notably, it redefines "eligible countywide district" to exclude hospital districts and clarifies the definition of "issuer" to include municipalities and counties while removing references to hospital districts. Additionally, the bill expands the definition of "public work" to include new categories such as first responder training facilities and modifies the conditions under which municipalities can issue certificates for demolishing dangerous structures, removing the previous allowance for restoring historic structures.

Furthermore, the bill adjusts the maturity period for certificates from 40 years to 30 years and lowers the percentage of registered voters required to protest the issuance of certificates from five percent to two percent. It also repeals a section of the Local Government Code related to the issuance of refinancing certificates. The changes will only apply to anticipation notes or certificates issued after the bill's effective date, ensuring that previously issued notes or certificates remain governed by the law in effect at that time. The bill is set to take effect 91 days after the end of the legislative session.

Statutes affected:
Introduced: Government Code 1431.001, Local Government Code 271.043, Local Government Code 271.0461, Local Government Code 271.047, Local Government Code 271.049, Local Government Code 271.0525, Local Government Code 271.046 (Local Government Code 271, Government Code 1431)