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