By George                                              H.B. No. 612
         76R2726 ESH-D                           
                                A BILL TO BE ENTITLED
 1-1                                   AN ACT
 1-2     relating to the computation of school district property values for
 1-3     purposes of school finance.
 1-4           BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
 1-5           SECTION 1.  Section 403.302(d), Government Code, as amended
 1-6     by Chapters 1039, 1040, and 1071, Acts of the 75th Legislature,
 1-7     Regular Session, 1997, is reenacted and amended to read as follows:
 1-8           (d)  For the purposes of this section, "taxable value" means
 1-9     the market value of all taxable property less:
1-10                 (1)  the total dollar amount of any residence homestead
1-11     exemptions lawfully granted under Section 11.13(b), [or] (c), or
1-12     (n), Tax Code, in the year that is the subject of the study for
1-13     each school district;
1-14                 (2)  the total dollar amount of any exemptions granted
1-15     before May 31, 1993, within a reinvestment zone under agreements
1-16     authorized by Chapter 312, Tax Code;
1-17                 (3)  the total dollar amount of any captured appraised
1-18     value of property that is located in a reinvestment zone on August
1-19     31, 1999, [that] generates a tax increment paid into a tax
1-20     increment fund, and is eligible for tax increment financing under
1-21     Chapter 311, Tax Code, under a reinvestment zone financing plan
1-22     approved under Section 311.011(d), Tax Code, before September 1,
1-23     1999;
1-24                 (4)  the total dollar amount of any exemptions granted
 2-1     under Section 11.251, Tax Code;
 2-2                 (5)  the difference between the comptroller's estimate
 2-3     of the market value and the productivity value of land that
 2-4     qualifies for appraisal on the basis of its productive capacity,
 2-5     except that the productivity value estimated by the comptroller may
 2-6     not exceed the fair market value of the land;
 2-7                 (6)  the portion of the appraised value of residence
 2-8     homesteads of the elderly on which school district taxes are not
 2-9     imposed in the year that is the subject of the study, calculated as
2-10     if the residence homesteads were appraised at the full value
2-11     required by law;
2-12                 (7)  a portion of the market value of property not
2-13     otherwise fully taxable by the district at market value because of
2-14     action required by statute or the constitution of this state that,
2-15     if the tax rate adopted by the district is applied to it, produces
2-16     an amount equal to the difference between the tax that the district
2-17     would have imposed on the property if the property were fully
2-18     taxable at market value and the tax that the district is actually
2-19     authorized to impose on the property, if this subsection does not
2-20     otherwise require that portion to be deducted;
2-21                 (8)  the market value of all tangible personal
2-22     property, other than manufactured homes, owned by a family or
2-23     individual and not held or used for the production of income;
2-24                 (9)  the appraised value of property the collection of
2-25     delinquent taxes on which is deferred under Section 33.06, Tax
2-26     Code;
2-27                 (10)  the portion of the appraised value of property
 3-1     the collection of delinquent taxes on which is deferred under
 3-2     Section 33.065, Tax Code; and
 3-3                 (11)  the amount by which the market value of a
 3-4     residence homestead to which Section 23.23, Tax Code, applies
 3-5     exceeds the appraised value of that property as calculated under
 3-6     that section.
 3-7           SECTION 2.  This Act takes effect September 1, 1999.
 3-8           SECTION 3.  The importance of this legislation and the
 3-9     crowded condition of the calendars in both houses create an
3-10     emergency and an imperative public necessity that the
3-11     constitutional rule requiring bills to be read on three several
3-12     days in each house be suspended, and this rule is hereby suspended.