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| 1 | 1 | By: Kerwin H.B. No. 2743 | |
| 2 | 2 | ||
| 3 | 3 | ||
| 4 | 4 | ||
| 5 | 5 | ||
| 6 | 6 | A BILL TO BE ENTITLED | |
| 7 | 7 | AN ACT | |
| 8 | 8 | relating to the dedication of certain surplus state revenue for ad | |
| 9 | 9 | valorem tax relief. | |
| 10 | 10 | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | |
| 11 | 11 | SECTION 1. Subchapter G, Chapter 403, Government Code, is | |
| 12 | 12 | amended by adding Section 403.108 to read as follows: | |
| 13 | 13 | Sec. 403.108. DEDICATION OF SURPLUS GENERAL | |
| 14 | 14 | REVENUE-RELATED FUNDS TO AD VALOREM TAX RELIEF. (a) From the | |
| 15 | 15 | estimated ending certification balance in a state fiscal biennium, | |
| 16 | 16 | less transfers, the comptroller shall, not later than the 90th day | |
| 17 | 17 | of each biennium, transfer to a dedicated account in the general | |
| 18 | 18 | revenue fund the greater of: | |
| 19 | 19 | (1) $1.5 billion; or | |
| 20 | 20 | (2) an amount equal to 10 percent of the estimated | |
| 21 | 21 | ending certification balance in a state fiscal biennium, less | |
| 22 | 22 | transfers. | |
| 23 | 23 | (b) In addition to funds transferred to the account | |
| 24 | 24 | described by subsection (a), the legislature may appropriate funds | |
| 25 | 25 | to the account described by subsection (a) out of revenue available | |
| 26 | 26 | for general-purpose spending through the upcoming biennium. | |
| 27 | 27 | (c) Money deposited to the account described in subsection | |
| 28 | 28 | (a) shall only be appropriated by the legislature to provide ad | |
| 29 | 29 | valorem tax relief. | |
| 30 | 30 | SECTION 2. This Act applies beginning with the state fiscal | |
| 31 | 31 | biennium beginning on September 1, 2027. | |
| 32 | 32 | SECTION 3. This Act takes effect September 1, 2025. |