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A BILL TO BE ENTITLED
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AN ACT
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relating to the exemption from ad valorem taxation of part of the |
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appraised value of the residence homestead of a partially disabled |
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veteran or the surviving spouse of a partially disabled veteran if |
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the residence homestead was donated to the disabled veteran by a |
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charitable organization for less than the market value of the |
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residence homestead. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 11.132(b), Tax Code, is amended to read |
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as follows: |
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(b) A disabled veteran who has a disability rating of less |
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than 100 percent is entitled to an exemption from taxation of a |
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percentage of the appraised value of the disabled veteran's |
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residence homestead equal to the disabled veteran's disability |
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rating if the residence homestead was donated to the disabled |
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veteran by a charitable organization: |
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(1) at no cost to the disabled veteran; or |
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(2) at some cost to the disabled veteran in the form of |
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a cash payment, a mortgage, or both in an aggregate amount that is |
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not more than 50 percent of the good faith estimate of the market |
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value of the residence homestead made by the charitable |
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organization as of the date the donation is made. |
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SECTION 2. This Act applies only to ad valorem taxes imposed |
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for an ad valorem tax year that begins on or after the effective |
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date of this Act. |
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SECTION 3. This Act takes effect January 1, 2018, but only |
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if the constitutional amendment proposed by the 85th Legislature, |
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Regular Session, 2017, authorizing the legislature to provide for |
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an exemption from ad valorem taxation of part of the market value of |
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the residence homestead of a partially disabled veteran or the |
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surviving spouse of a partially disabled veteran if the residence |
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homestead was donated to the disabled veteran by a charitable |
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organization for less than the market value of the residence |
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homestead and harmonizing certain related provisions of the Texas |
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Constitution is approved by the voters. If that amendment is not |
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approved by the voters, this Act has no effect. |