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.