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A BILL TO BE ENTITLED
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AN ACT
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relating to the application of the limit on appraised value of a |
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residence homestead for ad valorem tax purposes to an improvement |
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that is a replacement structure for a structure that was rendered |
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uninhabitable or unusable by a casualty or by wind or water damage. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 23.23, Tax Code, is amended by adding |
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Subsection (g) to read as follows: |
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(g) In this subsection, "disaster recovery program" means |
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the disaster recovery program administered by the General Land |
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Office that is funded with community development block grant |
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disaster recovery money authorized by the Consolidated Security, |
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Disaster Assistance, and Continuing Appropriations Act, 2009 (Pub. |
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L. No. 110-329) and the Consolidated and Further Continuing |
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Appropriations Act, 2012 (Pub. L. No. 112-55). Notwithstanding |
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Subsection (f)(2), and only to the extent necessary to satisfy the |
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requirements of the disaster recovery program, a replacement |
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structure described by that subdivision is not considered to be a |
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new improvement if to satisfy the requirements of the disaster |
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recovery program it was necessary that: |
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(1) the square footage of the replacement structure |
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exceed that of the replaced structure as that structure existed |
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before the casualty or damage occurred; or |
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(2) the exterior of the replacement structure be of |
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higher quality construction and composition than that of the |
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replaced structure. |
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SECTION 2. This Act applies only to the appraisal of a |
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residence homestead for ad valorem tax purposes for a tax year that |
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begins on or after January 1, 2014. |
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SECTION 3. This Act takes effect January 1, 2014. |