75R14145 SMH-D By Cain S.J.R. No. 43 Substitute the following for S.J.R. No. 43: By Hilbert C.S.S.J.R. No. 43 A JOINT RESOLUTION 1-1 proposing a constitutional amendment authorizing the legislature to 1-2 limit increases in value and the frequency of appraisals of 1-3 residence homesteads for property tax purposes and to provide for 1-4 the transfer to a different residence homestead of the school 1-5 property tax freeze on residence homesteads of the elderly. 1-6 BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-7 SECTION 1. Section 1, Article VIII, Texas Constitution, is 1-8 amended by adding Subsections (i) and (j) to read as follows: 1-9 (i) Notwithstanding Subsections (a) and (b) of this section, 1-10 the Legislature by general law may limit the maximum annual 1-11 increase in the appraised value of residence homesteads for ad 1-12 valorem tax purposes in order to provide tax relief from the 1-13 effects of increases in the market value of residence homesteads. 1-14 A limitation on appraisal increases authorized by this subsection: 1-15 (1) takes effect as to a residence homestead on the 1-16 later of the effective date of the law imposing the limitation or 1-17 January 1 of the tax year following the first tax year the owner 1-18 qualifies the property for an exemption under Section 1-b of this 1-19 article; and 1-20 (2) expires on January 1 of the first tax year that 1-21 neither the owner of the property when the limitation took effect, 1-22 the owner's spouse or surviving spouse, nor a minor child of the 1-23 owner qualifies for an exemption under Section 1-b. 1-24 (j) Notwithstanding Subsections (a) and (b) of this section, 2-1 the Legislature by general law may limit the frequency with which 2-2 increases in the appraised value of real property for ad valorem 2-3 tax purposes may be recognized. 2-4 SECTION 2. Section 1-b(d), Article VIII, Texas Constitution, 2-5 is amended to read as follows: 2-6 (d) Except as otherwise provided by this subsection, if a 2-7 person receives the residence homestead exemption prescribed by 2-8 Subsection (c) of this section for homesteads of persons sixty-five 2-9 (65) years of age or older, the total amount of ad valorem taxes 2-10 imposed on that homestead for general elementary and secondary 2-11 public school purposes may not be increased while it remains the 2-12 residence homestead of that person or that person's spouse who 2-13 receives the exemption. If a person sixty-five (65) years of age 2-14 or older dies in a year in which the person received the exemption, 2-15 the total amount of ad valorem taxes imposed on the homestead for 2-16 general elementary and secondary public school purposes may not be 2-17 increased while it remains the residence homestead of that person's 2-18 surviving spouse if the spouse is fifty-five (55) years of age or 2-19 older at the time of the person's death, subject to any exceptions 2-20 provided by general law. The legislature, by general law, may 2-21 provide for the transfer of all or a proportionate amount of a 2-22 limitation provided by this subsection for a person who qualifies 2-23 for the limitation and establishes a different residence homestead. 2-24 However, taxes otherwise limited by this subsection may be 2-25 increased to the extent the value of the homestead is increased by 2-26 improvements other than repairs or improvements made to comply with 2-27 governmental requirements and except as may be consistent with the 3-1 transfer of a limitation under this subsection. 3-2 SECTION 3. This proposed constitutional amendment shall be 3-3 submitted to the voters at an election to be held November 4, 1997, 3-4 but only if the constitutional amendment proposed by H.J.R. No. 4, 3-5 75th Legislature, Regular Session, 1997, is not approved by the 3-6 voters. The ballot shall be printed to permit voting for or 3-7 against the proposition: "The constitutional amendment authorizing 3-8 the legislature to limit increases in value and the frequency of 3-9 appraisals of residence homesteads for property tax purposes and to 3-10 provide for the transfer to a different residence homestead of the 3-11 school property tax freeze on residence homesteads of the elderly."