The bill amends the Government Code to enhance the transparency and clarity of ballot propositions for bond elections held by political subdivisions, such as municipalities, counties, and school districts. It requires that the ballot explicitly states the specific purpose for which the debt obligations are being authorized, the total principal amount, and the estimated tax burden on taxpayers for each $100,000 in taxable property value. Additionally, it mandates that the ballot includes a statement indicating that sufficient taxes will be imposed to cover the principal and interest on the debt obligations.

Furthermore, the bill stipulates that political subdivisions with at least 250 registered voters must prepare a voter information document for each proposition, detailing the ballot language, principal and interest estimates, and the potential tax impact on homeowners. This document must be posted publicly and made available on the political subdivision's website. The governing body is also required to disclose the major assumptions used in estimating tax impacts, such as debt amortization and projected changes in property values. The changes will apply only to elections ordered after the bill's effective date, which is set for 91 days following the end of the legislative session.