| TO: | Honorable Steve Ogden, Chair, Senate Committee on Finance |
| FROM: | John S. O'Brien, Director, Legislative Budget Board |
| IN RE: | SJR13 by Averitt (Proposing a constitutional amendment authorizing the legislature to provide for a reduction of the limitation on the total amount of ad valorem taxes that may be imposed for public school purposes on the residence homesteads of the elderly or disabled to reflect any reduction in the rate of those taxes and providing that state appropriations made for the purpose of directly reducing local government taxes do not count against the constitutional state spending limit.), As Introduced |
The cost to the state for publication of the resolution is $77,468.
The proposed amendment, without enabling legislation, would have no fiscal impact on the state or units of local government.
The amendment would authorize the legislature to adjust the school property tax limitation on the residence homesteads of 65-and-over under certain circumstances.
The amendment would also exempt appropriations from state tax revenues not dedicated by the Constitution made for the purpose of directly reducing local government taxes from the Article VIII Spending Limit.
The proposed constitutional amendment would be submitted to the voters at an election to be held May 12, 2007. The change in the Texas Constitution would take effect take upon official canvass of returns indicating adoption of the amendment.
| Source Agencies: |
| LBB Staff: | JOB, CT, SD, SJS
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