Relating to the requirements regarding an election to authorize the issuance of general obligation bonds or to approve an increase in an ad valorem tax rate.

HB 5490 requires local governments in Texas to obtain a two-thirds majority vote from voters to approve either the issuance of general obligation bonds or an increase in property tax rates. This bill directly affects cities, school districts, and other local taxing entities that seek to fund projects or raise revenue through bonds or tax hikes. Key provisions include mandating that such elections occur on the November uniform election date (not as emergency elections), requiring a two-thirds supermajority for approval, and preventing governing bodies from disapproving tax rates approved by voters. The bill also modifies tax code notice requirements to include comparisons of proposed rates versus existing "no-new-revenue" rates.