LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 77th Regular Session May 10, 2001 TO: Honorable Teel Bivins, Chair, Senate Committee on Education FROM: John Keel, Director, Legislative Budget Board IN RE: HB2240 by Brown, Betty (Relating to limiting the transfer of the school district ad valorem tax freeze on the residence homesteads of the elderly to different homesteads in the same school district.), As Engrossed ************************************************************************** * * * * * No significant fiscal implication to the State is anticipated. * ************************************************************************** The bill amends Section 11.26 of the Tax Code to confine transfers of the school district property tax ceiling for 65-and-over homeowners (also known as a "tax freeze") to resident homestead transfers within the same school district. The bill would not affect the transfer of tax ceilings made before the 2002 tax year. Because of the relatively low number of transferred tax freezes that would likely be transferred outside the district where the tax freeze was originally imposed, the bill should have minimal impact on state aid or local tax revenue. Local Government Impact No significant fiscal implication to units of local government is anticipated. Source Agencies: 304 Comptroller of Public Accounts, 701 Texas Education Agency LBB Staff: JK, CT, BR