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 * * * * *