80R12056 JD-F

By: Otto, Hill, Kolkhorst, Ritter, Thompson, H.B. No. 3492

et al.

Substitute the following for H.B. No. 3492:

By: Quintanilla C.S.H.B. No. 3492

A BILL TO BE ENTITLED

AN ACT

relating to the determination of the total taxable value of property in a school district under the property value study conducted by the comptroller of public accounts.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:

SECTION 1. Section 403.302(b), Government Code, is amended to read as follows:

(b) In conducting the study, the comptroller shall determine the taxable value of property in each school district:

(1) using, if appropriate, samples selected through generally accepted sampling techniques;

(2) according to generally accepted standard valuation, statistical compilation, and analysis techniques; [and]

(3) ensuring that different levels of appraisal on sold and unsold property do not adversely affect the accuracy of the study; and

(4) ensuring that different levels of appraisal resulting from protests determined under Section 41.43, Tax Code, are appropriately adjusted in the study.

SECTION 2. The change in law made by this Act applies only to the annual study conducted under Section 403.302, Government Code, as amended by this Act, to determine taxable value for a tax year that begins on or after January 1, 2007. The annual study to determine taxable value for a tax year that begins before that date is covered by the law in effect immediately before the effective date of this Act, and the prior law is continued in effect for that purpose.

SECTION 3. This Act takes effect immediately if it receives a vote of two-thirds of all the members elected to each house, as provided by Section 39, Article III, Texas Constitution. If this Act does not receive the vote necessary for immediate effect, this Act takes effect September 1, 2007.