By Hochberg                                     H.B. No. 2557

      75R8780 JD-D                           

                                A BILL TO BE ENTITLED

 1-1                                   AN ACT

 1-2     relating to the annual study of school district property values.

 1-3           BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:

 1-4           SECTION 1.  Section 403.302(d), Government Code, is amended

 1-5     to read as follows:

 1-6           (d)  For the purposes of this section, "taxable value" means

 1-7     market value less:

 1-8                 (1)  the total dollar amount of any exemptions of part

 1-9     but not all of the value of taxable property required by the

1-10     constitution or a statute that a district lawfully granted in the

1-11     year that is the subject of the study;

1-12                 (2)  the total dollar amount of any exemptions granted

1-13     before May 31, 1993, within a reinvestment zone under agreements

1-14     authorized by Chapter 312, Tax Code;

1-15                 (3)  the total dollar amount of any captured appraised

1-16     value of property that is located in a reinvestment zone and that

1-17     is eligible for tax increment financing under Chapter 311, Tax

1-18     Code;

1-19                 (4)  the total dollar amount of any exemptions granted

1-20     under Section 11.251, Tax Code;

1-21                 (5)  the difference between the market value and the

1-22     productivity value of land that qualifies for appraisal on the

1-23     basis of its productive capacity, except that the productivity

1-24     value may not exceed the fair market value of the land;

 2-1                 (6)  the portion of the appraised value of residence

 2-2     homesteads of the elderly on which school district taxes are not

 2-3     imposed in the year that is the subject of the study, calculated as

 2-4     if the residence homesteads were appraised at the full value

 2-5     required by law;

 2-6                 (7)  the portion of the appraised value of residence

 2-7     homesteads on which school district taxes are not imposed in the

 2-8     year that is the subject of the study because of the limitation

 2-9     required by Section 1-b(i), Article VIII, Texas Constitution;

2-10                 (8)  a portion of the market value of property not

2-11     otherwise fully taxable by the district at market value because of

2-12     action required by statute or the constitution of this state that,

2-13     if the tax rate adopted by the district is applied to it, produces

2-14     an amount equal to the difference between the tax that the district

2-15     would have imposed on the property if the property were fully

2-16     taxable at market value and the tax that the district is actually

2-17     authorized to impose on the property; and

2-18                 (9) [(8)]  the market value of all tangible personal

2-19     property, other than manufactured homes, owned by a family or

2-20     individual and not held or used for the production of income.

2-21           SECTION 2.  This Act takes effect only if the constitutional

2-22     amendment proposed by ___ J.R. No. _____, 75th Legislature, Regular

2-23     Session, l997, takes effect.  If that amendment is not approved by

2-24     the voters, this Act has no effect.

2-25           SECTION 3.  The importance of this legislation and the

2-26     crowded condition of the calendars in both houses create an

2-27     emergency and an imperative public necessity that the

 3-1     constitutional rule requiring bills to be read on three several

 3-2     days in each house be suspended, and this rule is hereby suspended.