SRC-VRA, TJG S.B. 180 78(R)       BILL ANALYSIS


Senate Research Center   S.B. 180
78R2978 RCJ-DBy: Janek
Finance
4/14/2003
As Filed


DIGEST AND PURPOSE 

Currently, an appraisal of a residence homestead may increase up to ten
percent each year.  As proposed, S.B. 180 places a one percent cap on the
maximum annual increase of the appraised value of a residence homestead. 

RULEMAKING AUTHORITY

This bill does not expressly grant any additional rulemaking authority to
a state officer, institution, or agency. 

SECTION BY SECTION ANALYSIS

SECTION 1.  Amends Section 23.23(a), Tax Code, to decrease from ten
percent to one percent, the factor by which the maximum percent increase
in the appraised value of a residence homestead for ad valorem tax
purposes, may be calculated. 

SECTION 2.  Effective date: January 1, 2004.
           Makes application of this Act prospective only if the
constitutional amendment                  relating to an annual increase
limitation in the appraised value of a residence
homestead for ad valorem tax purposes is approved by the voters.