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A BILL TO BE ENTITLED
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AN ACT
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relating to the authority of the governing body of a taxing unit to |
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adopt an exemption from ad valorem taxation of an individual's |
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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 11.13(n), Tax Code, is amended to read as |
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follows: |
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(n) In addition to any other exemptions provided by this |
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section, an individual is entitled to an exemption from taxation by |
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a taxing unit of a percentage of the appraised value of the |
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individual's [his] residence homestead or of a fixed dollar amount |
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if the exemption is adopted by the governing body of the taxing unit |
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before July 1 in the manner provided by law for official action by |
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the body. If the percentage set by the taxing unit produces an |
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exemption in a tax year of less than $5,000, or of a greater dollar |
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amount not to exceed $25,000 adopted by the governing body before |
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July 1 of that tax year in the manner provided by law for official |
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action by the body, when applied to a particular residence |
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homestead, the individual is entitled to an exemption of $5,000 or, |
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if applicable, of the greater dollar amount adopted by the |
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governing body, of the appraised value. The percentage adopted by |
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the taxing unit may not exceed 30 [20] percent. |
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SECTION 2. This Act applies only to ad valorem taxes imposed |
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for a tax year that begins on or after the effective date of this |
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Act. |
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SECTION 3. This Act takes effect January 1, 2020, but only |
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if the constitutional amendment proposed by the 86th Legislature, |
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Regular Session, 2019, authorizing the governing body of a |
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political subdivision that adopts an exemption from ad valorem |
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taxation of a percentage of the market value of an individual's |
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residence homestead to set the minimum dollar amount of the |
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exemption to which an individual is entitled in a tax year is |
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approved by the voters. If that amendment is not approved by the |
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voters, this Act has no effect. |