TITLE: Relating to ballot language for a proposition to approve the issuance or increase of debt.

SUMMARY: Relating to ballot language for a proposition to approve the issuance or increase of debt.

FULL TEXT:
AN ACT relating to ballot language for a proposition to approve the issuance or increase of debt. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: SECTION 1. Section 52.072(e), Election Code, is amended to read as follows: (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 other debt or the imposition, increase, or reduction of a tax shall specifically state, as applicable: (1) with respect to a proposition seeking voter approval of the issuance of bonds or other debt:(A) the total principal amount of the bonds or other debt to be authorized, if approved; [and] (B) a general description of the purposes for which the bonds or other debt are to be authorized, if approved; and (C) the total debt accrued by the issuer as of the first day of the fiscal year in which the election is held and any additional debt authorized as of the date of the election; (2) with respect to a proposition that only seeks voter approval of the imposition or increase of a tax, the amount of or maximum tax rate of the tax or tax increase for which approval is sought; or (3) with respect to a proposition that only seeks voter approval of the reduction of a tax, the amount of tax rate reduction or the tax rate for which approval is sought. SECTION 2. The change in law made by this Act applies only to an election ordered on or after the effective date of this Act. An election ordered before the effective date of this Act is governed by the law in effect when the election was ordered. SECTION 3. This Act takes effect September 1, 2013.