How the Property Tax Replacement Plan Handles Bonds and Protects Texans
How the TPTRP Handles Texas Bond Debt
Ending property taxes does not mean breaking a single public promise. The TPTRP keeps every lawful bond paid, on time and in full, while replacing property taxes with a constitutionally protected sales-tax bond-service structure — and gives Texas citizens the first opportunity to buy the bonds their communities approve.
- The Core Promise — No Bond Left Behind
- The Scale of Existing Debt
- How Bonds Are Paid Under the TPTRP
- The I&S Component Is Law-Set and Self-Eliminating
- Reserve Funds and the Backstop Cascade
- School District Bonds and School Finance Reform
- Citizens First Bond Sale Requirement
- Special District Absorption
- The Constitutional Amendment
- The Implementing Legislation
- References
The Core Promise — No Bond Left Behind
What the TPTRP does, and does not do, when property taxes end
The Texas Property Tax Replacement Plan does not walk away from a single lawful bond obligation in Texas. Every school bond, county bond, city bond, water district bond, and hospital district bond issued under the promise of ad valorem taxation remains valid and enforceable after property taxes end. The payment schedule does not change. The bondholders do not lose a dollar. What changes is only where the money comes from.
That is the heart of the bond plan: bonds still get paid, on time and in full, but the payment path changes. Instead of collecting property taxes and routing them through local I&S levies to pay debt service, the TPTRP uses a Bond Service Levy — a dedicated, law-set component of the flat statewide sales and use tax — certified annually for each taxing entity by the Texas Comptroller of Public Accounts.
The United States Supreme Court has held that substituting an equivalent revenue source for a repealed tax does not constitute impairment of a bond contract if the bond obligation is fully preserved. United States Trust Co. v. New Jersey, 431 U.S. 1 (1977). The TPTRP bond framework is built precisely on that principle: it is a revenue substitution, not a diminishment.
For constituents, ending property taxes does not mean defaulting on school bonds, county bonds, city bonds, or other voter-approved debt. For legislators and committees, the bond portion of the TPTRP is designed as a coordinated legal transition — not a slogan — with reserve funds, certification rules, transition support, and a final state backstop built into the constitutional and statutory framework.
The constitutional amendment does the heavy legal lifting: it protects valid existing obligations, authorizes the replacement servicing structure, and sets the ground rules for future debt. The implementing legislation turns that constitutional framework into an operating system — amending the specific statutes that still assume a property-tax bond world and rewriting them so the new servicing structure can function day to day.
The Bond Service Levy portion of any entity's quarterly distribution can never be withheld, suspended, offset, delayed, or diminished for any reason — including a finding of fiscal distress, a late or deficient report, an enforcement action, or noncompliance with any other requirement of law. Only the Maintenance and Operations portion of a distribution can ever be suspended for a compliance failure. Bond debt service is protected absolutely.
The Scale of Existing Debt
Why bond management is not an afterthought — it is a separate transition framework
The bond issue is not theoretical. As of August 31, 2025, Texas local governments had about $368.9 billion in outstanding local debt, including about $257.0 billion in tax-supported debt backed primarily by ad valorem taxation. That is why bonds cannot be handled as an afterthought in a property-tax abolition plan.
| Issuer Class | Outstanding Debt | TPTRP Relevance |
|---|---|---|
| Independent school districts | $148.4B | Largest local debt category; school bond statutes and school-finance law must be conformed |
| Cities and towns | $113.4B | Large volume of capital debt tied to local-government bond statutes |
| Water districts and authorities | $55.8B | Special-district debt requires district-specific conformity and transition handling |
| Counties | $20.4B | County bond statutes must be updated to remove ad valorem servicing assumptions |
| Other special districts | $19.0B | Confirms framework must extend beyond schools and cities |
| Community / junior college districts | $6.4B | Education-related debt remains part of the transition framework |
| Health and hospital districts | $5.5B | Requires handling under special-district and local bond provisions |
| PSF-guaranteed charter school bonds | $5.89B | Non-taxing-entity debt; covered by PSF primary + State co-guarantee simultaneous |
| Total local debt | ~$368.9B | Why the transition must be legally and operationally precise |
The BRB also reports that school district tax-supported debt naturally rolls off over time: approximately $28.8 billion retired within five years, $58.5 billion within ten years, and $113.8 billion within twenty years. That matters because the TPTRP bond plan is designed not only to keep payments whole now, but to allow the bond-related rate component to fall automatically over time as legacy obligations are paid down.
Approximately $5.89 billion in charter school debt guaranteed by the Permanent School Fund was outstanding as of October 31, 2025. Because charter schools are not taxing entities, the amendment and legislation provide a dedicated charter bond framework: the PSF guarantee remains primary, and the State co-guarantee activates simultaneously upon any PSF draw.
How Bonds Are Paid Under the TPTRP
A step-by-step look at the new payment path — same schedule, different source
For existing debt, the public promise is straightforward: the payment schedule does not change. Principal and interest remain due on the same legal schedule, and the issuer's obligation to bondholders remains in force. Each taxing entity remains the primary obligor on its own outstanding bonds. What changes is how the money is gathered and administered.
The Bond Service Levy for each entity is a separate, dedicated, entity-specific line within the statewide sales and use tax collection system. The Comptroller remits Bond Service Levy collections directly to each entity's I&S Reserve Fund not later than the 10th business day after the end of each collection month.
For all purposes of any Pre-Abolition Bond resolution, indenture, official statement, or continuing disclosure agreement, the Bond Service Levy constitutes the legal successor to and substitute for the ad valorem Interest and Sinking levy pledged at issuance. No bondholder of any Pre-Abolition Bond shall have any claim that this substitution constitutes an impairment of the bond contract.
Before any new bond can even go to voters, the Comptroller must issue a Constitutional Cap Rate (CCR) pre-certification confirming that the proposed bond's required I&S Rate, added to the entity's current total rate, will not exceed that entity's Constitutional Cap Rate. No governing body may call a bond election without this pre-certification in hand, and the ballot itself must disclose that the Comptroller has certified the bond's I&S Rate as within the entity's remaining rate headroom. The Comptroller also maintains a continuously updated Bond Service Levy Disclosure Feed — a module of the Local Government Transparency portal — showing every entity's outstanding bonds, CUSIP and maturity data, and current I&S sub-rate in real time.
On and after the Implementation Date, no county or municipality may issue bonds, certificates of obligation, or tax notes of any kind — regardless of funding source — without prior voter approval on a uniform election date. This closes the certificate-of-obligation loophole that previously allowed some debt to be issued through a petition process instead of an election, and no emergency declaration or executive order may waive the requirement.
The I&S Component Is Law-Set and Self-Eliminating
When the bond is gone, the bond rate goes down — automatically, by law, without a vote
One of the most important protections in the bond plan is the separation between ordinary operating money and bond money. The I&S Rate is not set by the governing body — it is certified annually by the Texas Comptroller based on each entity's actual certified debt service requirement, plus a buffer of 5% to 10% to account for collection volatility.
“When a bond is paid, the rate goes down. That is not a political promise. It is a constitutional rule.”— TPTRP Constitutional Amendment v8.2, Art. VIII §1-n(h)(4)
When a bond matures, is defeased, or is otherwise retired, the Comptroller's next annual recalculation automatically reduces the I&S Rate. No governing body vote, resolution, or ordinance is required. The reduction is mandatory. This means the I&S component is not meant to become a slush fund — it is constitutionally constrained to its purpose.
There is also an over-accumulation rule. If an entity's I&S Reserve Fund balance exceeds two times the entity's certified annual bond debt service, the Comptroller must automatically reduce the I&S Rate in the following fiscal year by the amount needed to prevent further accumulation above that maximum. A faster, two-period trigger applies as well: if an entity's I&S collections exceed its certified debt service plus its reserve fund target for two consecutive fiscal periods, the Comptroller must step the I&S Rate down for the following period — without waiting for the entity to hit the full 2x ceiling.
When an entity retires its very last outstanding bond, the I&S Rate does not just shrink — it goes to zero automatically, effective the first day of the entity's next fiscal period, with no board resolution required. The entity's chief financial officer certifies the residual I&S Reserve Fund balance to the Comptroller within 60 days of that fiscal year-end, and the Comptroller transfers that residual balance into the entity's Infrastructure Fund. If the entity later issues a new bond, its I&S Rate and I&S Reserve Fund are re-activated through the same pre-certification and voter-approval process required of any new debt — the Infrastructure Fund is not required to give the money back.
Any increase in an entity's M&O rate requires a voter election. Any decrease — including automatic I&S Rate reductions on bond retirement or over-collection — takes effect without a voter election, by Comptroller certification alone. Citizens can always vote to reduce; they must always vote to increase.
Reserve Funds and the Backstop Cascade
Three layers of protection so a timing gap never becomes a missed payment
The bond-management plan does not depend on a single promise or a single account. It uses layered protection so that a temporary disruption or timing gap does not become a missed payment. There is a strict order of operations: smaller, closer reserve tools are used first; broader state-level support is the last backstop, not the first move.
| Tier | Fund Used | Draw Floor | Who Controls It |
|---|---|---|---|
| Tier A | Entity I&S Reserve Fund (single, consolidated fund) | 50% of required 1x minimum balance | Entity; Comptroller may act if entity fails to draw |
| Tier B | Entity Stabilization Fund, then county (or next-higher tier's) Stabilization Fund | Per the balance floors and draw conditions of the TPTRP Fund System Act | Entity, then next-higher tier government; Comptroller may act if entity fails to draw |
| Tier C | State Economic Stabilization Fund (Art. III §49-g) | None — mandatory, self-executing draw | Comptroller — mandatory, self-executing, no appropriation required |
The Comptroller has authority to initiate cascade draws directly — without prior action by the governing body — when it determines a bond payment is at risk of being missed due to an entity's administrative failure. Texas also enters this transition from a position of strong fiscal capacity: the BRB reported the constitutional debt-limit calculation at 1.58 percent of the 5 percent maximum as of August 31, 2025.
The three-tier cascade above handles ordinary, day-to-day shortfalls. It is entirely separate from — and does not use up — the standalone disaster and emergency bond service framework that applies only to a declared disaster or emergency meeting the qualifying threshold used elsewhere in the TPTRP Funds Act. A purely local declaration that does not meet that threshold does not trigger disaster-track coverage; it is handled through the ordinary three-tier cascade instead. Where the disaster threshold is met, an affected entity may draw on its own I&S Reserve Fund without regard to the normal 50 percent draw floor, and the Comptroller can direct additional support from the entity's Stabilization Fund and the State Economic Stabilization Fund so that bond payments continue uninterrupted during the emergency. A disaster declaration does not alter, suspend, or accelerate the ordinary cascade's tiered draw sequence.
School District Bonds and School Finance Reform
Robin Hood ends. Every school bond still gets paid. Every district is fully funded.
School bonds are the most sensitive part of the transition because Texas school finance law is deeply entangled with property taxation. The legislation specifically amends Texas Education Code Section 45.001 to substitute the Bond Service Levy for the ad valorem I&S levy, while confirming that each ISD remains the primary obligor on its own outstanding bonds.
Simultaneously, the TPTRP repeals the Robin Hood recapture system. TEC Section 48.257 and all operative provisions of Chapter 49 are repealed effective on the Implementation Date. In their place, each independent school district is funded exclusively from the collections generated by its own Tier 4 rate on transactions sourced to that district. There is no enrollment-based, ADA-based, or property-wealth-based allocation formula of any kind — the Comptroller distributes to each district only the collections sourced to that district, in the same manner as a county or a municipality.
| Element | Current System | Under TPTRP |
|---|---|---|
| Bond debt service source | Local ad valorem I&S levy (TEC §45.001) | Bond Service Levy certified by Comptroller (Art. VIII §1-o) |
| I&S rate authority | Set by ISD board of trustees | Certified annually by Comptroller; no board action required or permitted |
| School funding formula | Foundation School Program + property wealth equalization | Each district funded from its own Tier 4 collections sourced to the district; no enrollment, ADA, or property-wealth basis; no allocation formula |
| Robin Hood recapture | TEC §48.257, Chapter 49 — operative | Repealed on Implementation Date; superseded by Tier 4 mechanism |
| PSF-guaranteed ISD bonds | PSF guarantee primary; ad valorem pledge supports | PSF guarantee primary; Bond Service Levy substitutes; State backstop secondary |
| Transition protection | None — existing system | Transition Fund and Transition Board provide supplemental support for any ISD that cannot be made whole under Tier 4 alone |
Charter schools are not taxing entities and cannot levy a Bond Service Levy of their own, so their outstanding debt is handled through a dedicated framework. The Permanent School Fund guarantee remains the primary security for charter school bonds, exactly as it is today. The Legislature has made an explicit finding that charter PSF-guaranteed bonds are equivalent in character to ISD PSF-guaranteed bonds, and the Comptroller must request a confirmatory opinion from the Attorney General within 90 days of the Implementation Date on whether the State's co-guarantee extends to charter bonds on the same basis. The co-guarantee remains operative regardless of the outcome of that opinion; any adverse determination by the Attorney General or a court applies only prospectively and does not unwind protection already in place for outstanding charter bonds.
Citizens First Bond Sale Requirement
Local voters approve the debt. Local citizens get first access to buy it.
The TPTRP bond plan does more than protect old debt. It changes how future voter-approved bonds are first offered for sale. The framework gives citizen-residents of the issuing jurisdiction first access to a reserved share of the bond offering before the bonds are broadly released to institutional buyers. If local voters approve debt and the local economy will support the servicing structure, local citizens should have the first opportunity to purchase part of that debt and receive the income stream it produces.
| Stage | Who May Buy | Duration | Denomination | Reserved Allocation |
|---|---|---|---|---|
| Stage 1 | Citizen-residents of the issuing entity's own jurisdiction | 30 days | $100–$500/bond | ≥25% of offering (up to 100% if demand) |
| Stage 2 | Citizen-residents of the next-higher tier's jurisdiction | 30 days | $100–$500/bond | All unsold from Stage 1 |
| Stage 3 | All Texas adult citizen-residents (statewide) | 30 days | $100–$500/bond | All unsold from Stage 2 |
| Stage 4 | Texas-domiciled business entities (principal place of business in Texas) | 30 days | $5,000/bond | All unsold from Stage 3 |
| Stage 5 | General institutional bond market | No limit | $5,000/bond | All unsold from Stage 4 |
The Citizens First requirement reflects the broader philosophy of the TPTRP: the plan is not only about changing who collects the money; it is also about changing who gets first access to the economic benefit from public debt that local citizens approve. When the community votes yes on a bond, the community should have the first opportunity to earn the interest.
Stage 4 is reserved for Texas-domiciled entities, not just any business with a Texas mailing address. To qualify, an entity must both be organized under Texas law or registered with the Secretary of State and have its primary executive offices and decision-making location physically in Texas — a registered agent alone does not qualify. The Comptroller's verification process cross-references the Secretary of State's entity registry, requires a sworn officer certification of principal Texas place of business, and flags any entity whose registered-agent address matches its certified principal place of business for further review. An officer who signs a false certification faces a civil penalty of up to $50,000 per false certification and is personally liable for three times the face value of any bonds purchased in reliance on it.
Special District Absorption
When a Tier 5 special district's own transaction base cannot support it, voters on both sides decide together
Many Texas special districts — municipal utility districts, emergency services districts, library districts, and similar entities — were built around a narrow ad valorem tax base that may not translate cleanly into a sales-and-use-tax world. Rather than leaving such a district to fail, the bond framework provides a voluntary absorption path into a host entity, such as the county or a neighboring municipality.
A special district may be absorbed into a host entity only if voters in both jurisdictions approve the absorption by majority vote on the same uniform election date. The Comptroller must issue a Constitutional Cap Rate pre-certification before either election may be called, confirming the host entity has enough remaining rate headroom to assume the district's bond obligations. If either jurisdiction's voters reject the absorption, the same proposal cannot be placed before voters again for 24 months.
Where an absorption is approved, the host entity assumes the absorbed district's outstanding bonds and its I&S Reserve Fund balance, and the district's own Bond Service Levy sub-rate is folded into the host entity's rate under the same certification and backstop-cascade rules that govern every other taxing entity.
The Constitutional Amendment
One consolidated amendment — bond management sits inside Article 1, alongside conforming amendments across nine other articles
A statutory change alone would not be enough. The current bond world was built around constitutional and statutory assumptions that property taxes exist and can be levied for debt service. If those assumptions are being replaced statewide, the legal authority for the replacement has to be strong enough to support the transition. That is why the bond protections and core servicing framework are placed directly into the Texas Constitution.
The TPTRP constitutional amendment is filed as a single consolidated House Joint Resolution, not as seven separate amendments. The bond-management provisions live in Article 1 of that resolution — amending Article VIII, Sections 1-e, 1-n, and 1-o of the Texas Constitution — with conforming amendments to related articles governing dedicated revenue, the state debt limit, school and municipal taxing authority, hospital districts, and special districts.
| Article | Constitutional Provisions | Bond-Relevant Content |
|---|---|---|
| Article 1 | Art. VIII §§1, 1-e, 1-m–1-w | Ad valorem abolition and savings clause (§1-e); rate architecture and I&S governance (§1-n); Bond Management, State Guarantee, and Citizens First Bond Sale Requirement (§1-o) — the core of this article |
| Article 2 | Art. VIII §§7-a, 7-c, 7-d, 7-e, 22 | Conforming amendments to dedicated revenue and appropriations-growth provisions |
| Article 3 | Art. III §§48-e, 48-f, 49-g, 49-j, 49-r, 52d | State debt limit conforming amendment; Economic Stabilization Fund available as Tier C backstop; special-district and road-district taxing authority |
| Article 4 | Art. VII §§1, 3, 3-b, 5 | ISD ad valorem authority removed; PSF guarantee preserved; charter school PSF co-guarantee framework |
| Article 5 | Art. XI §§4, 5, 7 | Municipal taxing authority and municipal debt; home-rule city bonds subject to voter approval and Citizens First |
| Article 6 | Art. IX §§4, 5, 8, 9, 11, 12, 13 | Hospital districts and airport authorities — conforming bond authority |
| Article 7 | Art. XVI §§59, 61, 65; Art. III §20 | Conservation and reclamation districts; special district absorption; office of county assessor-collector |
| Article 8 | Repealer | Every ad valorem provision rendered inoperative by the amendment, including prior bond-tax authority |
| Article 9 | Temporary provisions | Implementation Date, transition schedule, severability |
| Article 10 | Submission to voters | Ballot proposition and explanatory statement |
The amendment must be adopted as a House Joint Resolution (HJR) under Texas Constitution, Article XVII, Section 1, which requires passage by two-thirds of all members of each house of the Legislature, submission to voters at the next general election at least 90 days after adjournment, and ratification by a majority of voters. The HJR must be filed and passed before adjournment of the 90th Legislature to qualify for the November 2027 general election ballot.
The Implementing Legislation
18 articles, plus a cross-reference index — every statute that assumes property taxes still exist gets rewritten
The implementing legislation turns the constitutional framework into an operating system. It amends the specific statutes that still assume a property-tax bond world and rewrites them so the TPTRP bond-management structure can function day to day. The act is scoped exclusively to bond management. Provisions covering other parts of the plan live in their own separate, dedicated acts, which this act cross-references where coordination is required. A standalone disaster and emergency framework keeps bond payments flowing even when a declared disaster disrupts normal Bond Service Levy collections.
| Article | Subject | Key Statutes |
|---|---|---|
| Art. 1 | General Provisions and Definitions | Gov. Code §1.0052 (new) |
| Art. 2 | ISD Bond Pledge Substitution and Recapture Repeal | TEC §§45.001, 45.0011, 45.003; §48.257 (repeal); Ch. 49 (repeal); §48.2575 (new) |
| Art. 3 | Municipal and County Bond Authority Conforming | Gov. Code §§1331.001, 1251.001, 1471.011; LGC §271.041 |
| Art. 4 | I&S Reserve Fund (Consolidated), Backstop Cascade | Gov. Code §§404.0053–404.0057 (new), including §404.00535 and §404.00537 |
| Art. 5 | Bond Service Levy — Collection, Certification, Distribution | Tax Code §§321 Subch. G (new), 321.101(f), 151.051 |
| Art. 6 | Citizens First Bond Portal and Stage 4 Verification | Finance Code Ch. 160 (new) |
| Art. 7 | State ESF Backstop Draw Procedure | Gov. Code §316.0935 (new) |
| Art. 8 | Water Districts and Special District Absorption | Water Code §§49.108, 54.5015 (new); LGC Ch. 400 (new) |
| Art. 9 | Transition Board Coordination — Bond Service Guarantee During Transition | Gov. Code §490.0185 (new); cross-references separate Transition Board legislation |
| Art. 10 | Charter School Bond Framework (contingent on AG opinion) | Educ. Code Ch. 12 Subch. I (new) |
| Art. 11 | Saving Clauses, Transition, and Contingency | Multiple codes |
| Art. 12 | Effective Date | January 1, 2028 (contingent on HJR ratification) |
| Art. 13 | County Building, Water Improvement, and Hospital District Bond Conforming | Gov. Code §§1472, 1473, 1474; LGC §§271.041, 271.062; H&S Code §§281.121, 281.1025, 281.107, 285.064, 285.043; Chs. 282–289 (omnibus) |
| Art. 14 | Transit Authority Carve-Out — Confirmation | Tax Code §321.101(b)–(e) (no conflict confirmed) |
| Art. 15 | Tax Code Ch. 151 — TLC Cross-Reference Sweep | Tax Code Ch. 151 (TLC instruction) |
| Art. 16 | Special District Local Laws Code — Omnibus Conforming | SDLLC (all); Water Code §§49.001–49.002 |
| Art. 17 | Statutory Cross-Reference Index | Consolidated table mapping every article, statute, section, and subject addressed by the Act |
| Art. 18 | Disaster and Emergency Bond Service Coverage | Gov. Code §§404.0071–404.0076 (new); coordinates with the I&S Reserve Fund, State ESF, and separate disaster-response legislation |
The relationship between amendment and statute is critical. The amendment answers what the state is constitutionally allowed and required to do; the legislation answers how officials actually certify, collect, reserve, distribute, report, and enforce the bond system. Neither is sufficient without the other. Both must be filed together with the implementing bill's contingency clause linking its effective date to the HJR ratification.
References
Sources are organized by the sections of this article they principally inform. Citations follow APA 7th Edition format. All sources are primary or official originals.
Scale of Debt — Sections 2 and 6
Texas Bond Review Board. (2026, February). 2025 Local Government Annual Report: Fiscal Year Ended August 31, 2025. Texas Bond Review Board. https://www.brb.texas.gov
Primary statewide source for all local debt totals, debt by issuer class, tax-supported debt breakdowns, school debt retirement schedules, and PSF-guaranteed charter school debt. The central official source for explaining why bond management requires a separate transition framework under the TPTRP.
State Fiscal Capacity and Constitutional Debt Limit — Section 5
Texas Bond Review Board. (2026, January). Annual Report 2025: Fiscal Year Ended August 31, 2025. Texas Bond Review Board. https://www.brb.texas.gov
Primary statewide source for state debt totals, constitutional debt-limit usage (1.58% of 5% maximum), and broader debt-capacity context. Confirms the state's fiscal position supports the irrevocable guarantee structure.
Legal Framework and Contract Clause Precedent — Section 1
United States Supreme Court. (1977). United States Trust Co. of New York v. New Jersey, 431 U.S. 1.
Controlling Supreme Court precedent holding that substituting an equivalent revenue source for a repealed tax does not constitute impairment of a bond contract if the obligation is fully preserved. The foundational legal authority for the TPTRP revenue-substitution approach.
Governing Statutes — Sections 6 and 9
Texas Education Code §45.001. Bonds and Bond Taxes. https://statutes.capitol.texas.gov/Docs/ED/htm/ED.45.htm
Existing statutory bond-pledge provision for ISDs — the primary statutory bond pledge that is superseded by the TPTRP implementing legislation Art. 2.
Texas Education Code Chapter 49. Equalization Funding (Recapture). https://statutes.capitol.texas.gov/Docs/ED/htm/ED.49.htm
All operative recapture provisions (Subchapters A through G) are repealed effective on the Implementation Date under the TPTRP implementing legislation. The Tier 4 equalization mechanism supersedes this chapter in its entirety.
Texas Tax Code §321. Municipal Sales and Use Tax Act. https://statutes.capitol.texas.gov/Docs/TX/htm/TX.321.htm
Current framework for local sales-tax administration. The TPTRP bond-service structure expands this authority (new Subchapter G) to administer the Bond Service Levy as a dedicated component.
Texas Government Code §316.093. Economic Stabilization Fund. https://statutes.capitol.texas.gov/Docs/GV/htm/GV.316.htm
Current ESF statute. The TPTRP implementing legislation adds §316.0935 to establish the mandatory Tier C backstop draw procedure, making ESF draws for bond shortfalls self-executing without a separate appropriation act.
Texas Constitution — All Sections
Texas Constitution. Article VIII (Taxation and Revenue); Article VII (Education); Article III (Legislative Department); Article XVII (Mode of Amending). https://statutes.capitol.texas.gov/
Governing legal baseline against which the TPTRP bond-management amendment is drafted. The amendment adds §§1-n and 1-o to Article VIII and makes conforming changes to Articles III, VII, and XI.