H.B. No. 300 amends the Government Code to enhance the transparency and information provided to voters regarding debt obligation elections held by political subdivisions, such as municipalities and school districts. The bill mandates that ballots for these elections include a plain language description of the specific purpose for the debt obligations, the estimated combined principal and interest required for repayment, and the maximum annual tax amount that would be imposed on each $100,000 of taxable value of a residence homestead to cover these obligations. Additionally, it requires that each specific purpose for which debt obligations are issued be presented as a separate proposition on the ballot.

Furthermore, the bill stipulates that political subdivisions with at least 250 registered voters must prepare a voter information document that outlines key financial details related to the proposed debt obligations. This document must include a table detailing the principal and estimated interest of the debt, as well as the total combined amount required for repayment. It also requires the identification of major assumptions made regarding tax impacts and debt amortization. The information must be made accessible on the political subdivision's website starting 21 days before the election. 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.