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Senate Bill 1 (3rd C.S.) |
Senate Author: Bettencourt et al. |
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Effective: See below |
House Sponsor: Meyer et al. |
Senate Bill 1 amends the Education Code and Tax Code to increase the amount of the general residence homestead property tax exemption offered by a school district from $25,000 to $40,000. The bill provides for the protection of school districts against the resulting loss in local revenue as a result of that increase by entitling certain districts to additional state aid, if necessary. The bill takes effect on the date on which the corresponding constitutional amendment is approved by the voters. If that amendment is not approved by the voters, the bill has no effect.