The bill amends various sections of the Government and Local Government Codes to update the regulations surrounding the issuance of anticipation notes and certificates of obligation by certain local governments, specifically flood control districts and municipalities. Notably, it removes references to hospital districts as eligible entities for these financial instruments. The definition of "issuer" is expanded to include counties, and the definition of "public work" is refined to specify various types of public improvements while excluding certain facilities primarily used for professional sports or leased to for-profit entities.

Additionally, the bill modifies the maturity period for certificates from 40 years to a maximum of 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 related to the restoration of historic structures, focusing solely on the demolition of dangerous structures. The changes will apply only to anticipation notes or certificates issued after the bill's effective date, ensuring that previously issued notes or certificates remain governed by the prior law.

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)