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Senate bill would restrict use of I&S tax revenues to debt servicing, sponsor says
Summary
Sen. Hinojosa introduced SB 16 36 to prohibit using interest and sinking (I&S) tax revenues for deferred maintenance, aiming to protect bond-funded debt service; Frisco ISD finance chief cautioned the bill’s current wording could force districts to shift maintenance costs into operating budgets. The bill was left pending.
Senator Adam Hinojosa presented Senate Bill 16 36 to clarify that interest and sinking (I&S) tax revenues — the portion of local property taxes dedicated to debt service — should be used exclusively for servicing bond debt and not for deferred maintenance or other operational costs.
Hinojosa told the committee I&S revenues are intended to service debt for voter-approved capital projects and that allowing those…
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