Floor Packet Page No. 23 Amend CSHJR 4 as follows: (1) Add a new section, appropriately numbered, to read as follows: SECTION ____. Section 1, Article VIII, Texas Constitution, is amended by adding Subsection (i) to read as follows: (i) Notwithstanding Subsections (a) and (b) of this section, the Legislature by general law may limit the appraised value of residence homesteads for ad valorem tax purposes to provide tax relief from the effects of increases in the market value of residence homesteads. A limitation on appraised values authorized by this subsection: (1) takes effect as to a residence homestead on the later of the effective date of the law imposing the limitation or January 1 of the first tax year the owner qualifies the property for an exemption under Section 1-b of this article; and (2) expires on January 1 of the first tax year that neither the owner of the property when the limitation took effect, the owner's spouse or surviving spouse, nor a minor child of the owner qualifies for an exemption under Section 1-b. (2) Strike SECTION 9 of the resolution and substitute the following: SECTION 9. This proposed constitutional amendment shall be submitted to the voters at an election to be held August 9, 1997. The ballot shall be printed to permit voting for or against the proposition: "The constitutional amendment authorizing changes in law to reduce local property taxes, limit values of residence homesteads for property tax purposes, and increase the state's share of public education funding, including the dedication of lottery revenue to the public schools, authorization of a limited state property tax on nonresidential property, authorization of a privilege or franchise tax on the income and capital of business organizations other than sole proprietorships, providing for the transfer to a different homestead of the school property tax freeze on homesteads of the elderly, and establishment of public schools as the first priority of state spending." (3) Renumber SECTIONS of the resolution appropriately.