LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 76th Regular Session May 12, 1999 TO: Honorable Paul Sadler, Chair, House Committee on Public Education FROM: John Keel, Director, Legislative Budget Board IN RE: SB1210 by Cain (Relating to the limitation of school district ad valorem taxes on the residence homestead of an elderly person), As Engrossed ************************************************************************** * No significant fiscal implication to the State is anticipated. * ************************************************************************** The bill would amend Section 11.26 of the Tax Code to provide that: (1) a person must own and occupy a residence homestead for at least 12 consecutive months to receive the portability benefits for the school tax limitation provided in Subsection (g) for a subsequently acquired homestead; and (2) the school tax limitation would not apply to a residence homestead under construction on January 1 of the first year in which a person qualified for the 65-and-over homestead exemption, but it would apply to the following year when construction was completed. Local Government Impact No significant fiscal implication to units of local government is anticipated. Source Agencies: 304 Comptroller of Public Accounts LBB Staff: JK, CT, BB, BR