Relating to the allocation of proceeds from the issuance of general obligation bonds by political subdivisions.

SB 1501 requires Texas local governments (cities, counties, etc.) that issue general obligation bonds to allocate the bond proceeds exactly as voters approved in the ballot proposition. The bill mandates that these entities distribute funds according to the specific percentages or amounts stated in the voter-approved bond authorization. This ensures public funds raised through bond elections are used precisely as promised to voters, rather than being redirected without further approval. The law takes effect September 1, 2025, and applies to all future bond issuances following voter approval.