| 1 | 1 | | 84R10084 TJB-F |
|---|
| 2 | 2 | | By: Thompson of Harris H.B. No. 1980 |
|---|
| 3 | 3 | | |
|---|
| 4 | 4 | | |
|---|
| 5 | 5 | | A BILL TO BE ENTITLED |
|---|
| 6 | 6 | | AN ACT |
|---|
| 7 | 7 | | relating to the authority of the governing body of certain taxing |
|---|
| 8 | 8 | | units to adopt a local option residence homestead exemption from ad |
|---|
| 9 | 9 | | valorem taxation of a portion, expressed as a dollar amount, of the |
|---|
| 10 | 10 | | appraised value of an individual's residence homestead. |
|---|
| 11 | 11 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|---|
| 12 | 12 | | SECTION 1. Section 11.13, Tax Code, is amended by adding |
|---|
| 13 | 13 | | Subsection (n-1) to read as follows: |
|---|
| 14 | 14 | | (n-1) The governing body of a taxing unit other than a |
|---|
| 15 | 15 | | school district, in the manner provided by law for official action |
|---|
| 16 | 16 | | by the body, may adopt an exemption from taxation by the taxing unit |
|---|
| 17 | 17 | | of a portion, expressed as a dollar amount, of the appraised value |
|---|
| 18 | 18 | | of an individual's residence homestead. The exemption must be |
|---|
| 19 | 19 | | adopted by the governing body before July 1 of the tax year in which |
|---|
| 20 | 20 | | the exemption applies. If the governing body adopts an exemption |
|---|
| 21 | 21 | | under this subsection, the amount of the exemption in a tax year may |
|---|
| 22 | 22 | | not be less than $5,000. An individual is entitled to an exemption |
|---|
| 23 | 23 | | adopted under this subsection in addition to any other exemptions |
|---|
| 24 | 24 | | provided by this section. |
|---|
| 25 | 25 | | SECTION 2. This Act applies only to ad valorem taxes imposed |
|---|
| 26 | 26 | | for a tax year that begins on or after the effective date of this |
|---|
| 27 | 27 | | Act. |
|---|
| 28 | 28 | | SECTION 3. This Act takes effect January 1, 2016, but only |
|---|
| 29 | 29 | | if the constitutional amendment proposed by the 84th Legislature, |
|---|
| 30 | 30 | | Regular Session, 2015, authorizing the governing body of certain |
|---|
| 31 | 31 | | political subdivisions to adopt a local option residence homestead |
|---|
| 32 | 32 | | exemption from ad valorem taxation of a portion, expressed as a |
|---|
| 33 | 33 | | dollar amount, of the market value of an individual's residence |
|---|
| 34 | 34 | | homestead is approved by the voters. If that amendment is not |
|---|
| 35 | 35 | | approved by the voters, this Act has no effect. |
|---|