Relating to a limit on political subdivision expenditures.

HB 46 sets a spending cap for Texas counties, cities, school districts, and other local governments authorized to levy property taxes or issue bonds. It limits annual expenditures to either the previous year's total spending or that amount adjusted for population growth and inflation. Local governments must calculate this annual adjustment using data from the U.S. Census Bureau and post it online by January 31. Exceptions allow exceeding the cap if two-thirds of voters approve additional spending in a special election.