SRC-DBM S.B. 868 76(R) BILL ANALYSIS Senate Research Center S.B. 868 76R6480 SMH-DBy: Cain Finance 4/9/1999 As Filed DIGEST Currently, the state holds school districts harmless for losses due to the 10 percent homestead value cap by requiring the Comptroller of Public Accounts (comptroller) to deduct losses attributable to the limitation from a school district's taxable value; the comptroller determines this loss based on school district reports. The losses determined by the state should be equivalent to the appraisal level in school districts where state education funding is based on property values. S.B. 868 would expand the definition of "taxable value," resulting in a limitation on increases in appraised values of residence homesteads when the comptroller determines school district property values. PURPOSE As proposed, S.B. 868 expands the definition of "taxable value" which results in a limitation on increases in the appraised value of a residence homestead when the comptroller determines school district property values. RULEMAKING AUTHORITY This bill does not grant any additional rulemaking authority to a state officer, institution, or agency. SECTION BY SECTION ANALYSIS SECTION 1. Reenacts and amends Section 403.302(d), Government Code, 75th Legislature, Regular Session, 1997, to redefine "taxable value." SECTION 2.Effective date: September 1, 1999. SECTION 3.Emergency clause.