HB 4295
no new bonds at a 20 percent debt-to-asset ratio
Died in committee
Verdict: No flags
Initial review · graded Oct 20, 2026 · Headline, summary and grade are analysis of the bill text, not a finding about any person · How we grade
Caption
relating to the authority of a political subdivision to issue a public security if the debt-to-asset ratio of the political subdivision exceeds a certain percentage.
Caption from analyzed text · version I.
Summary
Applies to every city, county and district that borrows.
The bill bars any Texas political subdivision, such as a city, county, or district, from issuing a public security, meaning bonds and similar debt instruments, if its debt-to-asset ratio is 20 percent or more. It touches every local government and district that borrows through public securities, along with the buyers and sellers of that debt. Starting September 1, 2025, a local government already carrying debt equal to a fifth or more of its assets cannot issue new securities, though the bill does not say how the ratio is calculated.
Labels
Labels: NEVER GOT A HEARING. Filed Mar 11, 2025 and referred to the House Pensions, Investments & Financial Services committee. No public hearing. The bill died.
Receipt
The receipt
89R-HB4295 · 2025-03-11
SOLD BY
ITEM
relating to the authority of a political subdivision to issue a public security if the debt-to-asset ratio of the political subdivision exceeds a certain percentage.
WHAT IT DOES
Applies to every city, county and district that borrows.
The bill bars any Texas political subdivision, such as a city, county, or district, from issuing a public security, meaning bonds and similar debt instruments, if its debt-to-asset ratio is 20 percent or more. It touches every local government and district that borrows through public securities, along with the buyers and sellers of that debt. Starting September 1, 2025, a local government already carrying debt equal to a fifth or more of its assets cannot issue new securities, though the bill does not say how the ratio is calculated.
CHARGES
[ ] NONE FOUND
TOTAL
No fiscal note in the loaded record.
HISTORY
- Filed
- Read first time
- Referred to Pensions, Investments & Financial Services
FILED UNDER
The bill cuts off new bond and security authority for any local government or district whose debt reaches 20 percent or more of its assets.
THANK YOU FOR CHECKING THE RECEIPT
CAMPAIGN PAID FOR BY
CAMPAIGN PAID FOR BY
Donors
Not tied to this bill.
Sources
The author's campaign account only. Own money and internal transfers are separate on the member page.
Derived itemized flow · Oct 30, 2024 to Oct 23, 2026. State data as of Nov 4, 2026.
Derived itemized contributions on live regular reports and uncovered special-session dates. Internal account transfers and daily reports are excluded.
Texas Conservative Majority PAC$401,656.00
Texas Conservative Majority PAC
$401,656.00
- Cash
- $60,000.00
- Paid by others
- $341,656.00
- Total
- $401,656.00
Also funds 42 other sitting lawmakers.
Derived recipient stock · Jan 23, 2026 to Oct 23, 2026. State data as of Nov 4, 2026.
TEC account match.
TeamSources
Derived itemized flow · Aug 25, 2026 to Oct 23, 2026. State data as of Nov 4, 2026.
Derived itemized contributions on live regular reports and uncovered special-session dates. Internal account transfers and daily reports are excluded.
Report IDs: 101069212, 101071870.
Court Reform Action for Families Texas PAC$100,000.00
Court Reform Action for Families Texas PAC
$100,000.00
- Cash
- $100,000.00
- Paid by others
- $0.00
- Total
- $100,000.00
Also funds 32 other sitting lawmakers.
Derived recipient stock · Feb 20, 2026 to Oct 14, 2026. State data as of Nov 4, 2026.
TEC account match.
TeamSources
Derived itemized flow · Sep 22, 2026 to Oct 10, 2026. State data as of Nov 4, 2026.
Derived itemized contributions on live regular reports and uncovered special-session dates. Internal account transfers and daily reports are excluded.
Report IDs: 101069212, 101071870.
Texans for Lawsuit Reform PAC$85,700.00
Texans for Lawsuit Reform PAC
$85,700.00
- Cash
- $50,000.00
- Paid by others
- $35,700.00
- Total
- $85,700.00
Also funds 124 other sitting lawmakers.
Derived recipient stock · Jul 10, 2024 to Oct 23, 2026. State data as of Nov 4, 2026.
TEC account match.
TeamSources
Derived itemized flow · Aug 11, 2025 to Sep 30, 2026. State data as of Nov 4, 2026.
Derived itemized contributions on live regular reports and uncovered special-session dates. Internal account transfers and daily reports are excluded.
Report IDs: 101028938, 101069212, 101071870.
Missing data does not establish zero giving. Display amounts are rounded.
Texas Conservative Majority PAC
$401,656.00
- Cash
- $60,000.00
- Paid by others
- $341,656.00
- Total
- $401,656.00
Also funds 42 other sitting lawmakers.
Derived recipient stock · Jan 23, 2026 to Oct 23, 2026. State data as of Nov 4, 2026.
TEC account match.
TeamSources
Derived itemized flow · Aug 25, 2026 to Oct 23, 2026. State data as of Nov 4, 2026.
Derived itemized contributions on live regular reports and uncovered special-session dates. Internal account transfers and daily reports are excluded.
Report IDs: 101069212, 101071870.
Court Reform Action for Families Texas PAC
$100,000.00
- Cash
- $100,000.00
- Paid by others
- $0.00
- Total
- $100,000.00
Also funds 32 other sitting lawmakers.
Derived recipient stock · Feb 20, 2026 to Oct 14, 2026. State data as of Nov 4, 2026.
TEC account match.
TeamSources
Derived itemized flow · Sep 22, 2026 to Oct 10, 2026. State data as of Nov 4, 2026.
Derived itemized contributions on live regular reports and uncovered special-session dates. Internal account transfers and daily reports are excluded.
Report IDs: 101069212, 101071870.
Texans for Lawsuit Reform PAC
$85,700.00
- Cash
- $50,000.00
- Paid by others
- $35,700.00
- Total
- $85,700.00
Also funds 124 other sitting lawmakers.
Derived recipient stock · Jul 10, 2024 to Oct 23, 2026. State data as of Nov 4, 2026.
TEC account match.
TeamSources
Derived itemized flow · Aug 11, 2025 to Sep 30, 2026. State data as of Nov 4, 2026.
Derived itemized contributions on live regular reports and uncovered special-session dates. Internal account transfers and daily reports are excluded.
Report IDs: 101028938, 101069212, 101071870.
Votes
No floor vote loaded for this bill.
Fiscal
No fiscal note in the loaded record.
How this was graded
Analysis of text version I by claude-opus-5-5, Oct 20, 2026, against the published rubric.
Sources
Texas House · Filed Mar 11, 2025
04/01/2025 H Referred to Pensions, Investments & Financial Services: Apr 1 2025 12:28PM
Texas Legislature Online · Introduced
Data snapshot Oct 26, 2026 at 4:20 AM CDT. Grades, charges, quotes and corrections follow the published record.
House committee · Pensions, Investments & Financial Services · Final status: Died in committee
Subjects
Political Subdivisions
Taxation--Property-Appraisals & Appraisal Districts
Taxation--Property-Assessment & Collection
Text
The text as introduced · 182 words
89R13621 JBD-D By: Shaheen H.B. No. 4295 A BILL TO BE ENTITLED AN ACT relating to the authority of a political subdivision to issue a public security if the debt-to-asset ratio of the political subdivision exceeds a certain percentage. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: SECTION 1. The heading to Chapter 1253, Government Code, is amended to read as follows: CHAPTER 1253. PUBLIC SECURITIES [ GENERAL OBLIGATION BONDS ] ISSUED BY POLITICAL SUBDIVISIONS SECTION 2. Chapter 1253, Government Code, is amended by adding Section 1253.004 to read as follows: Sec. 1253.004. LIMITATION ON AUTHORITY TO ISSUE PUBLIC SECURITIES WITH HIGH DEBT-TO-ASSET RATIO. (a) In this section, "public security" has the meaning assigned by Section 1201.002. (b) A political subdivision may not issue a public security if the political subdivision has a debt-to-asset ratio of 20 percent or more. SECTION 3. The change in law made by this Act applies only to a public security issued by a political subdivision on or after the effective date of this Act. SECTION 4. This Act takes effect September 1, 2025.