Yeah it's one of those things that sounds kinda sensible in theory (the part about trying to stop fake representations of others passed off as real), but the devil is in the logistics of how it would actually be applied. Without reliable means to verify, we're most likely looking at scenarios like: candidate says thing that makes them look bad -> people spread it on the internet -> candidate claims it is faked and gets it taken down -> platforms comply because they are afraid of running afoul of the law and can't be bothered to investigate over whether it's legit.

Granted, since it's only Texas trying to do this, the last part might look more like "platforms comply by hiding it for Texas IPs because they are afraid of running afoul of the law." But that's still a relatively easy way to exploit the law to get stuff taken down that is true and just reflects badly on someone.

And that's not even getting into the criminal penalty part for individuals, which is completely out to lunch and seems like it's meant to scare people into not sharing political content online in general.