| Old | New | Differences | |
|---|---|---|---|
| 1 | 1 | 89R13063 JBD-D | |
| 2 | 2 | By: Money H.J.R. No. 142 | |
| 3 | 3 | ||
| 4 | 4 | ||
| 5 | 5 | ||
| 6 | 6 | ||
| 7 | 7 | A JOINT RESOLUTION | |
| 8 | 8 | proposing a constitutional amendment to abolish ad valorem taxes. | |
| 9 | 9 | BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: | |
| 10 | 10 | SECTION 1. Section 1, Article VIII, Texas Constitution, is | |
| 11 | 11 | amended by adding Subsections (k) and (l) to read as follows: | |
| 12 | 12 | (k) Except as provided by Subsection (l) of this section, a | |
| 13 | 13 | political subdivision of this state may not impose an ad valorem tax | |
| 14 | 14 | for any purpose on or after January 1, 2030. | |
| 15 | 15 | (l) On or after January 1, 2030, a political subdivision of | |
| 16 | 16 | this state shall impose an ad valorem tax on taxable property in the | |
| 17 | 17 | political subdivision in accordance with the law as it existed | |
| 18 | 18 | immediately before that date as necessary to repay the principal of | |
| 19 | 19 | and interest on bonds or other obligations issued by the political | |
| 20 | 20 | subdivision before that date that are secured wholly or partly by | |
| 21 | 21 | the revenue from the ad valorem taxes imposed by the political | |
| 22 | 22 | subdivision until the obligations are paid in full. The revenue | |
| 23 | 23 | from ad valorem taxes imposed under this subsection may be used only | |
| 24 | 24 | for the purpose described by this subsection. | |
| 25 | 25 | SECTION 2. This proposed constitutional amendment shall be | |
| 26 | 26 | submitted to the voters at an election to be held November 4, 2025. | |
| 27 | 27 | The ballot shall be printed to permit voting for or against the | |
| 28 | 28 | proposition: "The constitutional amendment to abolish ad valorem | |
| 29 | 29 | taxes." |