Relating to the authority of a political subdivision to issue certain public securities to purchase or lease tangible personal property or purchase, improve, or construct an improvement to real property.

HB 1514 limits Texas local governments' ability to issue bonds for equipment, vehicles, or real estate improvements. It prohibits political subdivisions (like cities, counties, school districts, and special districts) from using bonds to purchase or lease tangible personal property if the asset's useful life ends before the bond matures. The bill also requires that bond terms for real property improvements align with the asset's economic life, capping maturity at 120% of that life. These changes take effect September 1, 2025, to ensure bond financing matches federal tax depreciation rules.