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

HB 49 restricts how local governments in Texas can use property tax revenue from specific elections. It prohibits cities, counties, and local government corporations from using increased maintenance and operations tax revenue (derived from certain property tax elections) to repay public securities like bonds. The bill amends both the Tax Code and Government Code to explicitly ban dedicating or pledging this property tax revenue for debt payments. This applies only to public securities issued after the bill's effective date.