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Senate Bill 443 |
Senate Author: Hancock et al. |
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Effective: 6-4-19 |
House Sponsor: Murphy |
Senate Bill 443 amends the Tax Code to extend to the fifth anniversary of the date the owner of a property located in an area declared to be a disaster area by the governor following a disaster that is rendered uninhabitable or unusable by a casualty or by wind or water damage ceases to occupy the former qualified residential structure as the owner's principal residence must begin active construction of a replacement qualified residential structure or other physical preparation of the site on which the structure is to be located to be eligible to continue to receive a residence homestead property tax exemption on the property. The bill extends the maximum period during which the owner of such a property may receive that continued exemption to five years.