| 2 | | - | (In the Senate - Filed March 13, 2025; April 3, 2025, read |
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| 3 | | - | first time and referred to Committee on Local Government; |
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| 4 | | - | April 29, 2025, reported adversely, with favorable Committee |
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| 5 | | - | Substitute by the following vote: Yeas 6, Nays 0; April 29, 2025, |
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| 6 | | - | sent to printer.) |
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| 7 | | - | Click here to see the committee vote |
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| 8 | | - | COMMITTEE SUBSTITUTE FOR S.B. No. 2520 By: Paxton |
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| 21 | | - | (a-11) This subsection applies only in the tax year |
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| 22 | | - | immediately following the first tax year an individual qualifies a |
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| 23 | | - | residence homestead for an exemption under Section 11.13(c) after |
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| 24 | | - | the beginning of that first tax year, provided that the homestead |
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| 25 | | - | remains eligible for that same exemption in that following tax |
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| 26 | | - | year. Notwithstanding Subsection (a-10), the amount of the |
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| 27 | | - | limitation provided by this section on an individual's residence |
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| 28 | | - | homestead for the tax year to which this section applies is equal to |
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| 29 | | - | the lesser of: |
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| 30 | | - | (1) the amount of the limitation as computed under |
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| 31 | | - | Subsection (a-10) for that tax year; or |
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| 32 | | - | (2) the amount of tax imposed by the school district on |
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| 33 | | - | that residence homestead, calculated without regard to the |
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| 34 | | - | limitation on tax increases provided by this section, in that tax |
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| 35 | | - | year. |
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| 36 | | - | SECTION 2. This Act applies only to ad valorem taxes imposed |
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| 37 | | - | for a tax year beginning on or after the effective date of this Act. |
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| 14 | + | (a-11) In the tax year immediately following the first tax |
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| 15 | + | year the individual qualified a residence homestead for an |
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| 16 | + | exemption after the beginning of that first year and the residence |
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| 17 | + | homestead remains eligible for the same exemption, the limitation |
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| 18 | + | on tax increases provided by this section is the lessor of the |
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| 19 | + | amount of tax imposed by the district on that homestead in the |
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| 20 | + | preceding tax year adjusted as provided for in subsection (a-10) or |
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| 21 | + | the amount of ad valorem taxes imposed on the homestead in the tax |
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| 22 | + | year immediately following the first year of qualification of a |
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| 23 | + | homestead. |
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| 24 | + | SECTION 2. The change in law made by this Act is intended |
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| 25 | + | only to clarify existing law with respect to school district tax |
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| 26 | + | limitations. |
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