Relating to the authority of a political subdivision to issue debt to purchase or lease property.

SB 393 limits how Texas political subdivisions (like cities, counties, school districts, and special districts) can issue debt to buy or lease property. It specifically prohibits issuing debt for tangible personal property (such as equipment) if the property’s useful life ends before the debt matures. For real property improvements, it restricts debt maturity to 120% of the property’s expected economic life. These changes aim to align debt terms with asset lifespans, preventing long-term debt for short-lived assets.