82R3735 SMH-D
 
  By: Fletcher H.J.R. No. 103
 
 
 
A JOINT RESOLUTION
  proposing a constitutional amendment authorizing the legislature
  to provide for a credit against the ad valorem taxes imposed by
  certain taxing units on commercial or industrial real property
  based on the cost of constructing a building on the property.
         BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Article VIII, Texas Constitution, is amended by
  adding Section 1-p to read as follows:
         Sec. 1-p.  This section does not apply to ad valorem taxes
  imposed by a school district. The legislature by general law may
  provide for a credit against the ad valorem taxes imposed by a
  taxing unit on property based on the costs the owner of the property
  has contracted to pay to have a building constructed on the property
  that is to be used for commercial or industrial purposes. The
  legislature may provide formulas for computing the amount of the
  credit a property owner may receive in a tax year and may specify
  the period for which a property owner may receive a credit.
         SECTION 2.  This proposed constitutional amendment shall be
  submitted to the voters at an election to be held November 8, 2011.
  The ballot shall be printed to permit voting for or against the
  proposition: "The constitutional amendment authorizing the
  legislature to provide for a credit against the ad valorem taxes
  imposed by certain taxing units on commercial or industrial real
  property based on the cost of constructing a building on the
  property."