88R6746 SHH-D
By: Bettencourt S.B. No. 1814
A BILL TO BE ENTITLED
AN ACT
relating to the definition of current debt service for the purpose
of calculating the current debt rate of a taxing unit for ad valorem
tax purposes.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 26.012(3), Tax Code, is amended to read
as follows:
(3) "Current debt service" means the minimum dollar
amount required to be expended for debt service for the current
year.
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, 2024.