73R2252 JD-D
          By Lewis                                               H.B. No. 361
                                 A BILL TO BE ENTITLED
    1-1                                AN ACT
    1-2  relating to tax abatement agreements and truth in taxation.
    1-3        BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
    1-4        SECTION 1.  Section 26.012(17), Tax Code, is amended to read
    1-5  as follows:
    1-6              (17)  "New property value" means:
    1-7                    (A)  the total taxable value of property added to
    1-8  the appraisal roll in the current year by annexation and
    1-9  improvements listed on the appraisal roll that were made after
   1-10  January 1 of the preceding tax year, including personal property
   1-11  located in new improvements that was brought into the unit after
   1-12  January 1 of the preceding tax year; and
   1-13                    (B)  property value that is included in the
   1-14  current total value for the tax year succeeding a tax year in which
   1-15  any portion of the value of the property was excluded from the
   1-16  total value because of the application of a tax abatement agreement
   1-17  to all or a portion of the property, less the value of the property
   1-18  that was included in the total value for the preceding tax year.
   1-19        SECTION 2.  This Act takes effect January 1, 1994, and
   1-20  applies to tax rates adopted on or after that date.
   1-21        SECTION 3.  The importance of this legislation and the
   1-22  crowded condition of the calendars in both houses create an
   1-23  emergency and an imperative public necessity that the
   1-24  constitutional rule requiring bills to be read on three several
    2-1  days in each house be suspended, and this rule is hereby suspended.