85R987 TJB-D
By: Creighton S.B. No. 240
A BILL TO BE ENTITLED
AN ACT
relating to the exemption from ad valorem taxation of part of the
appraised value of the residence homestead of a partially disabled
veteran or the surviving spouse of a partially disabled veteran if
the residence homestead was donated to the disabled veteran by a
charitable organization for less than the market value of the
residence homestead.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 11.132(b), Tax Code, is amended to read
as follows:
(b) A disabled veteran who has a disability rating of less
than 100 percent is entitled to an exemption from taxation of a
percentage of the appraised value of the disabled veteran's
residence homestead equal to the disabled veteran's disability
rating if the residence homestead was donated to the disabled
veteran by a charitable organization:
(1) at no cost to the disabled veteran; or
(2) at some cost to the disabled veteran in the form of
a cash payment, a mortgage, or both in an aggregate amount that is
not more than 50 percent of the good faith estimate of the market
value of the residence homestead made by the charitable
organization as of the date the donation is made.
SECTION 2. This Act applies only to ad valorem taxes imposed
for an ad valorem tax year that begins on or after the effective
date of this Act.
SECTION 3. This Act takes effect January 1, 2018, but only
if the constitutional amendment proposed by the 85th Legislature,
Regular Session, 2017, authorizing the legislature to provide for
an exemption from ad valorem taxation of part of the market value of
the residence homestead of a partially disabled veteran or the
surviving spouse of a partially disabled veteran if the residence
homestead was donated to the disabled veteran by a charitable
organization for less than the market value of the residence
homestead and harmonizing certain related provisions of the Texas
Constitution is approved by the voters. If that amendment is not
approved by the voters, this Act has no effect.