Honorable Dennis Bonnen, Chair, House Committee on Ways & Means
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
HB1496 by Bonnen, Greg (Relating to the date for holding an election to ratify the ad valorem tax rate of a school district.), As Introduced
No fiscal implication to the State is anticipated.
The bill would amend Chapter 26 of the Tax Code, regarding local property tax assessment, to require the governing body of a school district to order that a school tax rate ratification election be held on the first uniform election date prescribed by the Election Code that allows sufficient time to comply with other requirements of law (rather than a date not less than 30 or more than 90 days after the day on which the tax rate is adopted).
The bill would not affect taxable property values, tax rates, collection rates, or any other variable which might affect the revenues of units of local governments or the state.
The bill would take effect immediately upon enactment, assuming it received the requisite two-thirds majority votes in both houses of the Legislature. Otherwise, it would take effect on the 91st day after the last day of the legislative session.
Local Government Impact
No fiscal implication to units of local government is anticipated.