By Bivins S.B. No. 841
77R3461 GJH-D
A BILL TO BE ENTITLED
1-1 AN ACT
1-2 relating to the effect of certain taxes paid into a tax increment
1-3 fund on the comptroller's determination of the property value of
1-4 school districts.
1-5 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-6 SECTION 1. Section 403.302(d), Government Code, is amended to
1-7 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), Tax
1-12 Code, in the year that is the subject of the study for each school
1-13 district;
1-14 (2) one-half of the total dollar amount of any
1-15 residence homestead exemptions granted under Section 11.13(n), Tax
1-16 Code, in the year that is the subject of the study for each school
1-17 district;
1-18 (3) the total dollar amount of any exemptions granted
1-19 before May 31, 1993, within a reinvestment zone under agreements
1-20 authorized by Chapter 312, Tax Code;
1-21 (4) subject to Subsection (e), the total dollar amount
1-22 of any captured appraised value of property that:
1-23 (A) is within a reinvestment zone created on or
1-24 before May 31, 1999, or is proposed to be included within the
2-1 boundaries of a reinvestment zone as the boundaries of the zone and
2-2 the proposed portion of tax increment paid into the tax increment
2-3 fund by a school district are described in a written notification
2-4 provided by the municipality or the board of directors of the zone
2-5 to the governing bodies of the other taxing units in the manner
2-6 provided by Section 311.003(e), Tax Code, before May 31, 1999, and
2-7 within the boundaries of the zone as those boundaries existed on
2-8 September 1, 1999, including subsequent improvements to the
2-9 property regardless of when made;
2-10 (B) generates taxes that are paid into a tax
2-11 increment fund created under Chapter 311, Tax Code, under a
2-12 reinvestment zone financing plan approved under Section 311.011(d),
2-13 Tax Code, on or before September 1, 1999, and that are not
2-14 subsequently returned to the school district; and
2-15 (C) is eligible for tax increment financing
2-16 under Chapter 311, Tax Code;
2-17 (5) the total dollar amount of any exemptions granted
2-18 under Section 11.251, Tax Code;
2-19 (6) the difference between the comptroller's estimate
2-20 of the market value and the productivity value of land that
2-21 qualifies for appraisal on the basis of its productive capacity,
2-22 except that the productivity value estimated by the comptroller may
2-23 not exceed the fair market value of the land;
2-24 (7) the portion of the appraised value of residence
2-25 homesteads of the elderly on which school district taxes are not
2-26 imposed in the year that is the subject of the study, calculated as
2-27 if the residence homesteads were appraised at the full value
3-1 required by law;
3-2 (8) a portion of the market value of property not
3-3 otherwise fully taxable by the district at market value because of
3-4 action required by statute or the constitution of this state that,
3-5 if the tax rate adopted by the district is applied to it, produces
3-6 an amount equal to the difference between the tax that the district
3-7 would have imposed on the property if the property were fully
3-8 taxable at market value and the tax that the district is actually
3-9 authorized to impose on the property, if this subsection does not
3-10 otherwise require that portion to be deducted;
3-11 (9) the market value of all tangible personal
3-12 property, other than manufactured homes, owned by a family or
3-13 individual and not held or used for the production of income;
3-14 (10) the appraised value of property the collection of
3-15 delinquent taxes on which is deferred under Section 33.06, Tax
3-16 Code;
3-17 (11) the portion of the appraised value of property
3-18 the collection of delinquent taxes on which is deferred under
3-19 Section 33.065, Tax Code; and
3-20 (12) the amount by which the market value of a
3-21 residence homestead to which Section 23.23, Tax Code, applies
3-22 exceeds the appraised value of that property as calculated under
3-23 that section.
3-24 SECTION 2. (a) This Act takes effect immediately if it
3-25 receives a vote of two-thirds of all the members elected to each
3-26 house, as provided by Section 39, Article III, Texas Constitution.
3-27 If this Act does not receive the vote necessary for immediate
4-1 effect, this Act takes effect September 1, 2001.
4-2 (b) The change in law made by this Act applies only to a
4-3 property value study made under Section 403.302, Government Code,
4-4 the preliminary findings of which are certified to the commissioner
4-5 of education on or after the effective date of this Act.