By: Flynn H.B. No. 1380

A BILL TO BE ENTITLED

AN ACT

Relating to transparency requirements for the disclosure of debt information to voters.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:

SECTION 1. Chapter 52, Election Code is amended as follows:

ELECTION CODE

Sec. 52.072. PROPOSITIONS. (a) Except as otherwise provided by law, the authority ordering the election shall prescribe the wording of a proposition that is to appear on the ballot.

(b) A proposition shall be printed on the ballot in the form of a single statement and may appear on the ballot only once.

(c) Except as provided by Subsection (d), in an election in which an office and a measure are to be voted on, each proposition stating a measure shall appear on the ballot after the listing of offices.

(d) If an election of officers is contingent on the adoption of a proposition appearing on the same ballot, the proposition shall appear on the ballot before the listing of offices.

(e) In addition to any other requirement imposed by law for a proposition, including a provision prescribing the proposition language, a proposition submitted to the voters for approval of the issuance of bonds or the imposition, increase, or reduction of a tax shall for any political subdivision, including municipalities, counties, school districts, and special taxing districts specifically state, as applicable:

(1) with respect to a proposition seeking voter approval of the issuance of bonds:

(A) the total amount of the political subdivision's debt currently outstanding;

(B) the total amount of the political subdivision's current debt payments;

(C) the total amount of the political subdivision's current debt obligations per capita;

(D) the total principal amount of the bonds to be authorized, if approved; and

(E) the estimated tax burden per capita of the bonds to be authorized, if approved; and

(BF) a general description of the purposes for which the bonds are to be authorized, if approved;.

(2) with respect to a proposition that only seeks voter approval of the imposition or increase of a tax,:

(A) the amount of or maximum tax rate of the tax or tax increase for which approval is sought; -e-r

(B) the estimated tax burden per capita of the imposition or increase of a tax, if approved; and

(C) a detailed description of the purposes for which the tax is to be imposed or increased, if approved.

(3) with respect to a proposition that only seeks voter approval of the reduction of a tax,:

(A) the amount of tax rate reduction or the tax rate for which approval is sought.; and

(B) the estimated tax reduction per capita of the imposition or increase of a tax, if approved.