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Amend CSHB 438 by striking SECTIONS 2 and 3 of the bill and
substituting the following:
SECTION 2. This Act applies only to the appraisal of a
residence homestead for ad valorem taxation for a tax year that
begins on or after the effective date of this Act.
SECTION 3. This Act takes effect January 1, 2008, but only if
the constitutional amendment proposed by the 80th Legislature,
Regular Session, 2007, authorizing the legislature to provide that
the maximum appraised value of a residence homestead for ad valorem
taxation is limited to the lesser of the most recent market value of
the residence homestead as determined by the appraisal entity or
110 percent, or a greater percentage, of the appraised value of the
residence homestead for the preceding tax year is approved by the
voters. If that amendment is not approved by the voters, this Act
has no effect.