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 with information on the principal and estimated interest of the debt, as well as the total outstanding debt obligations of the political subdivision. The governing body is also required to disclose major assumptions related to tax impacts and debt amortization. The changes introduced by this bill will apply only to elections ordered after its effective date, which is set for the 91st day following the end of the legislative session.