LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 83RD LEGISLATIVE REGULAR SESSION April 18, 2013 TO: Honorable Harvey Hilderbran, Chair, House Committee on Ways & Means FROM: Ursula Parks, Director, Legislative Budget Board IN RE:HB3348 by Rodriguez, Eddie (Relating to the authority of the governing body of a taxing unit to adopt a local option residence homestead exemption from ad valorem taxation of a portion, expressed as a dollar amount, of the appraised value of an individual's residence homestead.), As Introduced No fiscal implication to the State is anticipated. The bill would amend Section 11.13(n), of the Tax Code, to allow a taxing unit to adopt a residence homestead property tax exemption of any dollar amount of $5,000 or more, but a taxing unit would not be permitted to adopt both the exemption of a dollar amount and the optional exemption of up to 20 percent of a residence homestead's appraised value permitted under current law. A taxing unit would be required to adopt the residence homestead exemption before July 1 of the year in which the exemption applies. The bill would amend Section 42.2516, of the Education Code, and Section 403.302, of the Government Code, to prevent the state from reimbursing the school district revenue lost to the proposed new residence homestead exemption through the school finance formula.The constitutional amendment that accompanies this bill (HJR 138) is self-enabling. Consequently, the fiscal impact is discussed in the fiscal note for HJR 138. The bill would take effect on January 1, 2014, contingent on a constitutional amendment. Local Government Impact The constitutional amendment that accompanies this bill (HJR 138) is self-enabling. Consequently, the fiscal impact to local taxing units is discussed in the fiscal note for HJR 138. Source Agencies:304 Comptroller of Public Accounts LBB Staff: UP, KK, SD, SJS
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 83RD LEGISLATIVE REGULAR SESSION
April 18, 2013
TO: Honorable Harvey Hilderbran, Chair, House Committee on Ways & Means FROM: Ursula Parks, Director, Legislative Budget Board IN RE:HB3348 by Rodriguez, Eddie (Relating to the authority of the governing body of a taxing unit to adopt a local option residence homestead exemption from ad valorem taxation of a portion, expressed as a dollar amount, of the appraised value of an individual's residence homestead.), As Introduced
TO: Honorable Harvey Hilderbran, Chair, House Committee on Ways & Means
FROM: Ursula Parks, Director, Legislative Budget Board
IN RE: HB3348 by Rodriguez, Eddie (Relating to the authority of the governing body of a taxing unit to adopt a local option residence homestead exemption from ad valorem taxation of a portion, expressed as a dollar amount, of the appraised value of an individual's residence homestead.), As Introduced
Honorable Harvey Hilderbran, Chair, House Committee on Ways & Means
Honorable Harvey Hilderbran, Chair, House Committee on Ways & Means
Ursula Parks, Director, Legislative Budget Board
Ursula Parks, Director, Legislative Budget Board
HB3348 by Rodriguez, Eddie (Relating to the authority of the governing body of a taxing unit to adopt a local option residence homestead exemption from ad valorem taxation of a portion, expressed as a dollar amount, of the appraised value of an individual's residence homestead.), As Introduced
HB3348 by Rodriguez, Eddie (Relating to the authority of the governing body of a taxing unit to adopt a local option residence homestead exemption from ad valorem taxation of a portion, expressed as a dollar amount, of the appraised value of an individual's residence homestead.), As Introduced
No fiscal implication to the State is anticipated.
No fiscal implication to the State is anticipated.
The bill would amend Section 11.13(n), of the Tax Code, to allow a taxing unit to adopt a residence homestead property tax exemption of any dollar amount of $5,000 or more, but a taxing unit would not be permitted to adopt both the exemption of a dollar amount and the optional exemption of up to 20 percent of a residence homestead's appraised value permitted under current law. A taxing unit would be required to adopt the residence homestead exemption before July 1 of the year in which the exemption applies. The bill would amend Section 42.2516, of the Education Code, and Section 403.302, of the Government Code, to prevent the state from reimbursing the school district revenue lost to the proposed new residence homestead exemption through the school finance formula.The constitutional amendment that accompanies this bill (HJR 138) is self-enabling. Consequently, the fiscal impact is discussed in the fiscal note for HJR 138. The bill would take effect on January 1, 2014, contingent on a constitutional amendment.
Local Government Impact
The constitutional amendment that accompanies this bill (HJR 138) is self-enabling. Consequently, the fiscal impact to local taxing units is discussed in the fiscal note for HJR 138.
Source Agencies: 304 Comptroller of Public Accounts
304 Comptroller of Public Accounts
LBB Staff: UP, KK, SD, SJS
UP, KK, SD, SJS