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A BILL TO BE ENTITLED
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AN ACT
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relating to the dedication of certain surplus state revenue for ad |
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valorem tax relief. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. The heading to Subchapter G, Chapter 403, |
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Government Code, is amended to read as follows: |
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SUBCHAPTER G. FUNDS AND REVENUE DEDICATIONS |
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SECTION 2. Subchapter G, Chapter 403, Government Code, is |
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amended by adding Section 403.108 to read as follows: |
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Sec. 403.108. DEDICATION OF CERTAIN SURPLUS STATE REVENUE |
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FOR AD VALOREM TAX RELIEF. (a) Not later than the 90th day after |
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the last day of each state fiscal biennium, the comptroller shall |
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deposit to the credit of an account in the general revenue fund |
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general revenue in an amount equal to one-half of the amount by |
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which the total available general revenue for that biennium at the |
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end of the biennium exceeds the amount of total available general |
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revenue stated in the comptroller's biennial revenue estimate for |
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that biennium. |
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(b) Money in the account described by Subsection (a) may be |
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appropriated by the legislature only to provide ad valorem tax |
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relief. |
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SECTION 3. This Act applies beginning with the state fiscal |
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biennium beginning September 1, 2027. |
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SECTION 4. This Act takes effect September 1, 2025. |