1-1     By:  Cain                                              S.B. No. 868
 1-2           (In the Senate - Filed March 4, 1999; March 8, 1999, read
 1-3     first time and referred to Committee on Finance; April 19, 1999,
 1-4     reported adversely, with favorable Committee Substitute by the
 1-5     following vote:  Yeas 8, Nays 0; April 19, 1999, sent to printer.)
 1-6     COMMITTEE SUBSTITUTE FOR S.B. No. 868                 By:  Moncrief
 1-7                            A BILL TO BE ENTITLED
 1-8                                   AN ACT
 1-9     relating to the treatment of the limitation on increases in the
1-10     appraised value of a residence homestead in the determination of
1-11     school district property values by the comptroller of public
1-12     accounts.
1-13           BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-14           SECTION 1.  Section 403.302, Government Code, is amended by
1-15     adding Subsection (h) to read as follows:
1-16           (h)  If the comptroller determines in the annual study that
1-17     the market value of property in a school district as determined by
1-18     the appraisal district that appraises property for the school
1-19     district, less the total of the amounts and values listed in
1-20     Subsection (d) as determined by that appraisal district, is valid,
1-21     the comptroller, in determining the taxable value of property in
1-22     the school district under Subsection (d), shall for purposes of
1-23     Subsection (d)(11) subtract from the market value as determined by
1-24     the appraisal district of residence homesteads to which Section
1-25     23.23, Tax Code, applies the amount by which that amount exceeds
1-26     the appraised value of those properties as calculated by the
1-27     appraisal district under Section 23.23, Tax Code.  If the
1-28     comptroller determines in the annual study that the market value of
1-29     property in a school district as determined by the appraisal
1-30     district that appraises property for the school district, less the
1-31     total of the amounts and values listed in Subsection (d) as
1-32     determined by that appraisal district, is not valid, the
1-33     comptroller, in determining the taxable value of property in the
1-34     school district under Subsection (d), shall for purposes of
1-35     Subsection (d)(11) subtract from the market value as estimated by
1-36     the comptroller of residence homesteads to which Section 23.23, Tax
1-37     Code, applies the amount by which that amount exceeds the appraised
1-38     value of those properties as calculated by the appraisal district
1-39     under Section 23.23, Tax Code.
1-40           SECTION 2.  This Act takes effect September 1, 1999.
1-41           SECTION 3.  The importance of this legislation and the
1-42     crowded condition of the calendars in both houses create an
1-43     emergency and an imperative public necessity that the
1-44     constitutional rule requiring bills to be read on three several
1-45     days in each house be suspended, and this rule is hereby suspended.
1-46                                  * * * * *