Bill Text: TX HB4295 | 2025-2026 | 89th Legislature | Introduced
Bill Title: Relating to the authority of a political subdivision to issue a public security if the debt-to-asset ratio of the political subdivision exceeds a certain percentage.
Sponsorship: Partisan Bill (Republican 1)
Status: (Introduced - Dead) 2025-04-01 - Referred to Pensions, Investments & Financial Services [HB4295 Detail]
Download: Texas-2025-HB4295-Introduced.html
| 89R13621 JBD-D | ||
| By: Shaheen | H.B. No. 4295 | |
|
|
||
|
|
||
| relating to the authority of a political subdivision to issue a | ||
| public security if the debt-to-asset ratio of the political | ||
| subdivision exceeds a certain percentage. | ||
| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
| SECTION 1. The heading to Chapter 1253, Government Code, is | ||
| amended to read as follows: | ||
| CHAPTER 1253. PUBLIC SECURITIES [ |
||
| BY POLITICAL SUBDIVISIONS | ||
| SECTION 2. Chapter 1253, Government Code, is amended by | ||
| adding Section 1253.004 to read as follows: | ||
| Sec. 1253.004. LIMITATION ON AUTHORITY TO ISSUE PUBLIC | ||
| SECURITIES WITH HIGH DEBT-TO-ASSET RATIO. (a) In this section, | ||
| "public security" has the meaning assigned by Section 1201.002. | ||
| (b) A political subdivision may not issue a public security | ||
| if the political subdivision has a debt-to-asset ratio of 20 | ||
| percent or more. | ||
| SECTION 3. The change in law made by this Act applies only | ||
| to a public security issued by a political subdivision on or after | ||
| the effective date of this Act. | ||
| SECTION 4. This Act takes effect September 1, 2025. | ||
