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Amend CSHB 3676 by inserting the following new SECTION,
appropriately numbered, and renumbering the subsequent SECTIONS of
the bill accordingly as follows:
(1) Amend Section 313.103, Tax Code as follows:
APPLICATION. An application for a tax credit under this
subchapter must be made to the governing body of the school district
to which the ad valorem taxes were paid. The application must be:
(1) made on the form prescribed for that purpose by the
comptroller and verified by the applicant;
(2) accompanied by:
(A) a tax receipt from the collector of taxes for
the school district showing full payment of school district ad
valorem taxes on the qualified property for the applicable
qualifying time period; and
(B) any other document or information that the
comptroller or the governing body considers necessary for a
determination of the applicant's eligibility for the credit or the
amount of the credit.; and
(3) filed before September 1 of the year immediately
following the applicable qualifying time period.
(2) Amend Section 313.104, Tax Code as follows:
Sec. 313.104. ACTION ON APPLICATION; GRANT OF CREDIT. Before
granting the 90th day after the date the application for a tax
credit is filed, the governing body of the school district shall:
(1) determine the person's eligibility for a tax credit
under this subchapter; and
(2) if the person's application is approved, by order or
resolution direct the collector of taxes for the school district:
(A) in the second and subsequent six tax years
that begin after the date the application is approved, to credit
against the taxes imposed on the qualified property by the district
in that year an amount equal to one-seventh of the total amount of
tax credit to which the person is entitled under Section 313.102,
except that the amount of a credit granted in any of those tax years
may not exceed 50 percent of the total amount of ad valorem school
taxes imposed on the qualified property by the school district in
that tax year; and
(B) in the first three tax years that begin on or
after the date the person's eligibility for the limitation under
Subchapter B or C expires, to credit against the taxes imposed on
the qualified property by the district an amount equal to the
portion of the total amount of tax credit to which the person is
entitled under Section 313.102 that was not credited against the
person's taxes under Paragraph (A) in a tax year covered by
Paragraph (A), except that the amount of a tax credit granted under
this paragraph in any tax year may not exceed the total amount of ad
valorem school taxes imposed on the qualified property by the
school district in that tax year.