| 1 | 1 | | 88R4736 DRS-D |
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| 2 | 2 | | By: Cook H.B. No. 3974 |
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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 an exemption from ad valorem taxation by a taxing unit |
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| 8 | 8 | | located wholly or partly in a populous county of a specified dollar |
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| 9 | 9 | | amount, or a greater dollar amount specified by the governing body |
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| 10 | 10 | | of the taxing unit, of the appraised value of a residence homestead. |
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| 11 | 11 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 12 | 12 | | SECTION 1. Section 11.13, Tax Code, is amended by amending |
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| 13 | 13 | | Subsection (i) and adding Subsection (s) to read as follows: |
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| 14 | 14 | | (i) The assessor and collector for a taxing unit may |
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| 15 | 15 | | disregard the exemptions authorized by Subsection (b), (c), (d), |
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| 16 | 16 | | [or] (n), or (s) [of this section] and assess and collect a tax |
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| 17 | 17 | | pledged for payment of debt without deducting the amount of the |
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| 18 | 18 | | exemption if: |
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| 19 | 19 | | (1) prior to adoption of the exemption, the taxing |
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| 20 | 20 | | unit pledged the taxes for the payment of a debt; and |
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| 21 | 21 | | (2) granting the exemption would impair the obligation |
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| 22 | 22 | | of the contract creating the debt. |
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| 23 | 23 | | (s) This subsection applies only to a taxing unit located |
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| 24 | 24 | | wholly or partly in a county with a population of 200,000 or more. |
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| 25 | 25 | | In addition to any other exemptions provided by this section, an |
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| 26 | 26 | | individual is entitled to an exemption from taxation by a taxing |
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| 27 | 27 | | unit of $25,000, or a greater dollar amount specified by the |
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| 28 | 28 | | governing body of the taxing unit before July 1 in the manner |
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| 29 | 29 | | provided by law for official action of the body, of the appraised |
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| 30 | 30 | | value of the individual's residence homestead. |
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| 31 | 31 | | SECTION 2. This Act applies only to ad valorem taxes imposed |
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| 32 | 32 | | for a tax year that begins on or after the effective date of this |
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| 33 | 33 | | Act. |
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| 34 | 34 | | SECTION 3. This Act takes effect January 1, 2024, but only |
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| 35 | 35 | | if the constitutional amendment proposed by the 88th Legislature, |
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| 36 | 36 | | Regular Session, 2023, authorizing the legislature to provide for |
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| 37 | 37 | | an exemption from ad valorem taxation by a political subdivision |
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| 38 | 38 | | located wholly or partly in a populous county of a specified dollar |
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| 39 | 39 | | amount, or a greater dollar amount specified by the governing body |
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| 40 | 40 | | of the political subdivision, of the assessed value of a residence |
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| 41 | 41 | | homestead is approved by the voters. If that amendment is not |
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| 42 | 42 | | approved by the voters, this Act has no effect. |
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