AN ACT 1-1 relating to the treatment of the limitation on increases in the 1-2 appraised value of a residence homestead in the determination of 1-3 school district property values by the comptroller of public 1-4 accounts. 1-5 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-6 SECTION 1. Section 403.302, Government Code, is amended by 1-7 adding Subsection (h) to read as follows: 1-8 (h) If the comptroller determines in the annual study that 1-9 the market value of property in a school district as determined by 1-10 the appraisal district that appraises property for the school 1-11 district, less the total of the amounts and values listed in 1-12 Subsection (d) as determined by that appraisal district, is valid, 1-13 the comptroller, in determining the taxable value of property in 1-14 the school district under Subsection (d), shall for purposes of 1-15 Subsection (d)(11) subtract from the market value as determined by 1-16 the appraisal district of residence homesteads to which Section 1-17 23.23, Tax Code, applies the amount by which that amount exceeds 1-18 the appraised value of those properties as calculated by the 1-19 appraisal district under Section 23.23, Tax Code. If the 1-20 comptroller determines in the annual study that the market value of 1-21 property in a school district as determined by the appraisal 1-22 district that appraises property for the school district, less the 1-23 total of the amounts and values listed in Subsection (d) as 1-24 determined by that appraisal district, is not valid, the 2-1 comptroller, in determining the taxable value of property in the 2-2 school district under Subsection (d), shall for purposes of 2-3 Subsection (d)(11) subtract from the market value as estimated by 2-4 the comptroller of residence homesteads to which Section 23.23, Tax 2-5 Code, applies the amount by which that amount exceeds the appraised 2-6 value of those properties as calculated by the appraisal district 2-7 under Section 23.23, Tax Code. 2-8 SECTION 2. This Act takes effect September 1, 1999. 2-9 SECTION 3. The importance of this legislation and the 2-10 crowded condition of the calendars in both houses create an 2-11 emergency and an imperative public necessity that the 2-12 constitutional rule requiring bills to be read on three several 2-13 days in each house be suspended, and this rule is hereby suspended. _______________________________ _______________________________ President of the Senate Speaker of the House I hereby certify that S.B. No. 868 passed the Senate on May 3, 1999, by the following vote: Yeas 30, Nays 0. _______________________________ Secretary of the Senate I hereby certify that S.B. No. 868 passed the House on May 25, 1999, by a non-record vote. _______________________________ Chief Clerk of the House Approved: _______________________________ Date _______________________________ Governor