| 1 | 1 | | 89R6216 LHC-F |
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| 2 | 2 | | By: Bhojani H.J.R. No. 209 |
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| 7 | 7 | | A JOINT RESOLUTION |
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| 8 | 8 | | proposing a constitutional amendment to authorize the legislature |
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| 9 | 9 | | to provide for a one-time credit against the ad valorem taxes |
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| 10 | 10 | | imposed by a political subdivision on the first property that a |
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| 11 | 11 | | person purchases and qualifies as the person's residence homestead |
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| 12 | 12 | | and to provide for the reimbursement of political subdivisions for |
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| 13 | 13 | | the revenue loss incurred as a result of the credit. |
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| 14 | 14 | | BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 15 | 15 | | SECTION 1. Article VIII, Texas Constitution, is amended by |
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| 16 | 16 | | adding Section 1-q to read as follows: |
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| 17 | 17 | | Sec. 1-q. (a) The legislature by general law may provide |
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| 18 | 18 | | that a person who purchases a home is entitled to a one-time credit |
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| 19 | 19 | | against the ad valorem taxes imposed by a political subdivision on |
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| 20 | 20 | | the home in the first tax year in which the property qualifies as |
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| 21 | 21 | | the person's residence homestead if the person has not previously |
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| 22 | 22 | | qualified a property as the person's residence homestead. The |
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| 23 | 23 | | amount of the credit may not exceed the lesser of: |
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| 24 | 24 | | (1) the amount computed by multiplying $3,000 by a |
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| 25 | 25 | | fraction, the numerator of which is the amount of taxes imposed on |
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| 26 | 26 | | the residence homestead by the political subdivision and the |
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| 27 | 27 | | denominator of which is the total amount of taxes imposed on the |
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| 28 | 28 | | residence homestead by all of the political subdivisions that |
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| 29 | 29 | | impose taxes on the residence homestead; or |
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| 30 | 30 | | (2) one-half of the amount of taxes imposed by the |
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| 31 | 31 | | political subdivision on the residence homestead. |
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| 32 | 32 | | (b) The legislature may prescribe additional eligibility |
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| 33 | 33 | | requirements for receiving a credit under this section. |
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| 34 | 34 | | (c) Notwithstanding any other provision of this |
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| 35 | 35 | | constitution, the legislature by general law may authorize the use |
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| 36 | 36 | | of state money to reimburse a political subdivision for the revenue |
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| 37 | 37 | | loss incurred by the political subdivision as a result of the tax |
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| 38 | 38 | | credit authorized by this section and shall provide a procedure for |
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| 39 | 39 | | distributing any money appropriated for that purpose. |
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| 40 | 40 | | SECTION 2. This proposed constitutional amendment shall be |
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| 41 | 41 | | submitted to the voters at an election to be held November 4, 2025. |
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| 42 | 42 | | The ballot shall be printed to permit voting for or against the |
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| 43 | 43 | | proposition: "The constitutional amendment to authorize the |
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| 44 | 44 | | legislature to provide for a one-time credit against the ad valorem |
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| 45 | 45 | | taxes imposed by a political subdivision on the first property that |
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| 46 | 46 | | a person purchases and qualifies as the person's residence |
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| 47 | 47 | | homestead and to provide for the reimbursement of political |
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| 48 | 48 | | subdivisions for the revenue loss incurred as a result of the |
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| 49 | 49 | | credit." |
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