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.