| 1 | 1 | | 87R2599 CJC-D |
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| 2 | 2 | | By: Kolkhorst S.B. No. 1211 |
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| 3 | 3 | | |
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| 4 | 4 | | |
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| 5 | 5 | | A BILL TO BE ENTITLED |
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| 6 | 6 | | AN ACT |
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| 7 | 7 | | relating to the determination of the total taxable value of |
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| 8 | 8 | | property in a school district that has entered into an agreement |
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| 9 | 9 | | under the Texas Economic Development Act. |
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| 10 | 10 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 11 | 11 | | SECTION 1. Section 48.256(d), Education Code, is amended to |
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| 12 | 12 | | read as follows: |
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| 13 | 13 | | (d) This subsection applies to a school district in which |
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| 14 | 14 | | the board of trustees entered into a written agreement with a |
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| 15 | 15 | | property owner under Section 313.027, Tax Code, for the |
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| 16 | 16 | | implementation of a limitation on appraised value under Subchapter |
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| 17 | 17 | | B or C, Chapter 313, Tax Code. For purposes of determining "DPV" |
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| 18 | 18 | | under Subsection (a) for a school district to which this subsection |
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| 19 | 19 | | applies, the commissioner shall exclude an amount equal to one-half |
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| 20 | 20 | | of the [a] portion of the market value of property not otherwise |
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| 21 | 21 | | fully taxable by the district under Subchapter B or C, Chapter 313, |
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| 22 | 22 | | Tax Code, before the expiration of the subchapter. The comptroller |
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| 23 | 23 | | shall provide information to the agency necessary for this |
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| 24 | 24 | | subsection. A revenue protection payment required as part of an |
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| 25 | 25 | | agreement for a limitation on appraised value shall be based on the |
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| 26 | 26 | | district's taxable value of property for the preceding tax year. |
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| 27 | 27 | | SECTION 2. This Act takes effect September 1, 2021. |
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