| TO: | Honorable Harvey Hilderbran, Chair, House Committee on Ways & Means |
| FROM: | John S O'Brien, Director, Legislative Budget Board |
| IN RE: | HJR107 by Ritter (Proposing a constitutional amendment providing for the appraisal for ad valorem tax purposes of open-space land devoted to water stewardship purposes on the basis of its productive capacity.), As Introduced |
The cost to the state for publication of the resolution is $105,495.
The resolution would propose an amendment to Section 1-d-1(a), Article VIII, of the Texas Constitution, to add water stewardship to the list of land uses that qualify for appraisal based on the land's productive capacity instead of market value. The proposed amendment would require the Legislature to provide by general law for taxation of land devoted to water stewardship.
Because the proposed amendment leaves the details of the taxation of water stewardship land to the Legislature, there would be no fiscal impact to the state or units of local government other than the cost of publication.
The proposed amendment would be submitted to voters at an election to be held November 8, 2011 and, if approved, would take effect January 1, 2012.
| Source Agencies: | 304 Comptroller of Public Accounts
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| LBB Staff: | JOB, KK, SD, SJS
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