Bill

SB 1041

84(R) - 2015
Senate Finance
Read Bill & Check Bill Status
Senate Finance
Debt
Taxation

Vote Recommendation

Yes
  • Neutral
  • Positive
  • Positive
  • Positive
  • Positive

Author(s)

Paul Bettencourt

Bill Caption

Relating to required disclosures in ballot proposition language authorizing political subdivisions to issue bonds or impose or change a tax.

Fiscal Notes

A fiscal note dated May 6, 2015 anticipates not significant implication to the State or to units of local government.

Bill Analysis

Senate Bill 1041 would amend Chapter 52 of the Election Code related to ballot forms, content, and preparation to require that, in addition to already existing requirements, any political subdivision, 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, would have to clearly state the following:

For a proposition seeking voter approval of the issuance of bonds;

  • the total amount of the political subdivision's debt currently outstanding,
  • the amount of the current debt payments,
  • the amount of taxes required to be imposed on a homestead with a value equal to the median homestead value in the political subdivision, as computed by the appraisal district, to repay the political subdivision’s current debt obligations,
  • and the estimated tax burden that would be imposed on a homestead with a value equal to the median homestead value in the political subdivision, as computed by the appraisal district, to repay the bonds to be authorized, if approved.

For a proposition that only seeks voter approval of the imposition or increase of a tax;

  • the estimated additional tax burden that would be imposed on a homestead with a value equal to the median homestead value in the political subdivision,
  • and a detailed description of the purposes for which the tax is to be imposed or increased;

For a proposition that only seeks voter approval of the reduction of a tax;

  • the estimated tax reduction for a homestead with a value equal to the median homestead value in the political subdivision, as computed by the appraisal district, if the reduction of the tax is approved.

Vote Recommendation Notes

Senate Bill 1041 would require that additional information on debt and taxation be included on propositions submitted for voter approval, such as for the issuance of bonds, or the imposition, increase, or reduction of a tax.

With the massive increase in local debt and growth of property taxes in the past few years, it is of crucial importance that voters have all the information they need before approving the issuance of bonds, or the imposition, increase, or deduction of a tax.

Senate Bill 1041 would allow them to make more informed decisions by requiring detailed information, on propositions, on the level of debt, and its impact on local taxation.

Senate Bill 1041 would promote transparency, limited government, individual liberty, personal responsibility, and property rights. We support this bill.