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| 1 | 1 | By: Harrison H.J.R. No. 7 | |
| 2 | 2 | ||
| 3 | 3 | ||
| 4 | 4 | A JOINT RESOLUTION | |
| 5 | 5 | proposing a constitutional amendment to abolish ad valorem taxes. | |
| 6 | 6 | BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: | |
| 7 | 7 | SECTION 1. Section 1, Article VIII, Texas Constitution, is | |
| 8 | 8 | amended by adding Subsections (b-1) and (b-2) to read as follows: | |
| 9 | 9 | (b-1) A political subdivision of this state may not impose | |
| 10 | 10 | an ad valorem tax on real or personal property in this state for any | |
| 11 | 11 | purpose on or after January 1, 2029. | |
| 12 | 12 | (b-2) The state takes full responsibility for the guarantee | |
| 13 | 13 | of the repayment of all bonds issued by a school district before May | |
| 14 | 14 | 4, 2024, and secured by the revenue from the ad valorem taxes | |
| 15 | 15 | imposed by those entities before January 1, 2029. The legislature | |
| 16 | 16 | shall enact laws for the implementation of this subsection. | |
| 17 | 17 | SECTION 2. This proposed constitutional amendment shall be | |
| 18 | 18 | submitted to the voters at an election to be held May 4, 2024. The | |
| 19 | 19 | ballot shall be printed to permit voting for or against the | |
| 20 | 20 | proposition: "The constitutional amendment to abolish ad valorem | |
| 21 | 21 | taxes." |