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Amend HB 1869 on third reading by adding the following appropriately numbered SECTION to the bill and renumbering the SECTIONS of the bill accordingly:
SECTION ____. Chapter 26, Tax Code, is amended by adding Section 26.015 to read as follows:
Sec. 26.015. DEBT FOR CERTAIN TAXING UNITS. (a) This section applies only to:
(1) A county with a population of 1.8 million or more and two cities with 250,000 or more; and
(2) A taxing unit any part of which is located in a county described by Subdivision (1).
(b) In this chapter, "debt" means a bond, warrant, certificate of obligation, or other evidence of indebtedness owed by a taxing unit that is payable solely from property taxes in installments over a period of more than one year, not budgeted for payment from maintenance and operations funds, and secured by a pledge of property taxes, or a payment made under contract to secure indebtedness of a similar nature issued by another political subdivision on behalf of the taxing unit.