1-1 By: Craddick (Senate Sponsor - Brown) H.B. No. 1537
1-2 (In the Senate - Received from the House May 4, 1995;
1-3 May 5, 1995, read first time and referred to Committee on Finance;
1-4 May 16, 1995, reported favorably by the following vote: Yeas 12,
1-5 Nays 0; May 16, 1995, sent to printer.)
1-6 A BILL TO BE ENTITLED
1-7 AN ACT
1-8 relating to the calculation of the effective tax rate for taxing
1-9 units.
1-10 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-11 SECTION 1. Section 26.012(11), Tax Code, is amended to read
1-12 as follows:
1-13 (11) "Last year's debt levy" means the total of:
1-14 (A) the amount of taxes that would be generated
1-15 by multiplying the total taxable value of property on the appraisal
1-16 roll for the preceding year, including all appraisal roll
1-17 supplements and corrections, other than corrections made pursuant
1-18 to Section 25.25(d) of this code, as of the date of calculation, by
1-19 the debt rate adopted by the governing body in the preceding year
1-20 under Section 26.05(a)(1) <26.05(b)(1)> of this code; and
1-21 (B) the amount of debt taxes refunded by the
1-22 taxing unit in the preceding year for tax years before that year.
1-23 SECTION 2. Section 26.012(13), Tax Code, is amended to read
1-24 as follows:
1-25 (13) "Last year's levy" means the total of:
1-26 (A) the amount of taxes that would be generated
1-27 by multiplying the total tax rate adopted by the governing body in
1-28 the preceding year by the total taxable value of property on the
1-29 appraisal roll for the preceding year, including all appraisal roll
1-30 supplements and corrections other than corrections made pursuant to
1-31 Section 25.25(d) of this code, as of the date of the calculation,
1-32 except that last year's taxable value for a school district
1-33 excludes the total value of homesteads that qualified for a tax
1-34 limitation as provided by Section 11.26 of this code; and
1-35 (B) the amount of taxes refunded by the taxing
1-36 unit in the preceding year for tax years before that year.
1-37 SECTION 3. Section 26.012(14), Tax Code, is amended to read
1-38 as follows:
1-39 (14) "Last year's total value" means the total taxable
1-40 value of property listed on the appraisal roll for the preceding
1-41 year, including all appraisal roll supplements and corrections,
1-42 other than corrections made pursuant to Section 25.25(d) of this
1-43 code, as of the date of the calculation, except that last year's
1-44 taxable value for a school district excludes the total value of
1-45 homesteads that qualified for a tax limitation as provided by
1-46 Section 11.26 of this code.
1-47 SECTION 4. Section 26.08, Tax Code, is amended by adding
1-48 Subsection (i) to read as follows:
1-49 (i) For purposes of this section, increases in taxable
1-50 values and tax levies occurring within a reinvestment zone under
1-51 the provisions of Chapter 311 (Tax Increment Financing Act), in
1-52 which the district is a participant, shall be eliminated from the
1-53 calculation of the tax rate adopted by the governing body of the
1-54 school district.
1-55 SECTION 5. The importance of this legislation and the
1-56 crowded condition of the calendars in both houses create an
1-57 emergency and an imperative public necessity that the
1-58 constitutional rule requiring bills to be read on three several
1-59 days in each house be suspended, and this rule is hereby suspended.
1-60 * * * * *