Bill Text: TX SB1501 | 2025-2026 | 89th Legislature | Introduced
Bill Title: Relating to the allocation of proceeds from the issuance of general obligation bonds by political subdivisions.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced) 2025-02-20 - Filed [SB1501 Detail]
Download: Texas-2025-SB1501-Introduced.html
| 89R10347 JBD-D | ||
| By: Bettencourt | S.B. No. 1501 | |
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| relating to the allocation of proceeds from the issuance of general | ||
| obligation bonds by political subdivisions. | ||
| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
| SECTION 1. Chapter 1253, Government Code, is amended by | ||
| adding Section 1253.004 to read as follows: | ||
| Sec. 1253.004. ALLOCATION OF PROCEEDS. A political | ||
| subdivision shall allocate the proceeds from the issuance of | ||
| general obligation bonds authorized by the voters in the percentage | ||
| or amount stated in the ballot proposition to authorize the | ||
| issuance. | ||
| SECTION 2. This Act takes effect September 1, 2025. | ||
