PROP TX-DEBT LEVY

Creates the Taxing Body Refinancing by Popular Vote Act. Provides that no taxing district may renew or refinance its indebtedness in a way that requires the extension of property taxes for the payment of debt service in a taxable year that is later than the taxable year in which the indebtedness would otherwise mature unless the question of such renewal or refinancing is submitted to the electors of the district at a regular election and approved by a majority of the electors voting on the question.