By: Lucio S.B. No. 756 A BILL TO BE ENTITLED AN ACT 1-1 relating to equalizing valuations for governmental taxing and 1-2 taking; and declaring an emergency. 1-3 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-4 SECTION 1. Subsection (b), Section 23.01, Property Tax Code, 1-5 is amended to read as follows: 1-6 (b) The market value of property shall be determined by the 1-7 application of generally accepted appraisal techniques, and the 1-8 same or similar appraisal techniques shall be used in appraising 1-9 the same or similar kinds of property. However, each property 1-10 shall be appraised based upon the individual characteristics that 1-11 affect the property's market value being the price a willing buyer 1-12 would pay a willing seller after considering all factors in the 1-13 marketplace that influence the price of the property, including but 1-14 not limited to the property's location, its visibility, access to 1-15 and from the property, and its highest and best use. A property 1-16 owner whose land is taken or condemned under Sec. 21, et seq, Texas 1-17 Property Code, shall be entitled to receive the market value of 1-18 property taken, or the diminution in the market value of property 1-19 damaged, through consideration and evaluation of the same 1-20 characteristics, including the effect of the construction and 1-21 operation of the entire project for which, in part, the 1-22 condemnation was instituted, by the use of the same accepted 1-23 appraisal techniques. 2-1 SECTION 2. This Act takes effect September 1, 1995. 2-2 SECTION 3. EMERGENCY CLAUSE. The importance of this 2-3 legislation and the crowded condition of the calendars in both 2-4 houses create an emergency and an imperative public necessity that 2-5 the constitutional rule requiring bills to be read on three several 2-6 days in each house be suspended, and this rule is hereby suspended.