Relating to restrictions on the use of certain ad valorem tax revenue for the payment of public securities.

HB 231 restricts how local governments in Texas can use certain property tax revenue. Specifically, it prohibits municipalities, counties, and entities like local government corporations from using revenue from property tax elections (for maintenance and operations) to pay for bonds or other public securities, including when that revenue is transferred to such entities. The bill explicitly bans dedicating, pledging, or otherwise using these property tax funds for bond payments, ensuring the revenue stays dedicated to its original purpose. This applies only to bonds issued after the bill takes effect, with no retroactive impact.