The bill amends various sections of the Government Code and Local Government Code regarding the issuance of anticipation notes and certificates of obligation by local governments, specifically targeting 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. The bill also updates the definition of "public work" to include a broader range of projects, such as first responder training facilities, while eliminating references to certain facilities like animal shelters and hotels.

Additionally, the bill modifies the maturity period for certificates from 40 years to 30 years and adjusts the percentage of registered voters required to protest the issuance of certificates from five percent to two percent. It repeals Section 271.046, which previously outlined additional purposes for certificates, and specifies that the changes apply only to notes or certificates issued after the bill's effective date. 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)