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A JOINT RESOLUTION
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proposing a constitutional amendment authorizing the legislature |
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to exempt from ad valorem taxation by a school district a portion of |
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the appraised value of an individual's residence homestead in an |
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amount equal to the lesser of 50 percent of the appraised value of |
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the residence homestead after all other applicable exemptions for |
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which the individual has qualified the homestead are applied or 150 |
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percent of the median appraised value of all single-family |
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residences in the state and authorizing the legislature to exempt |
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from ad valorem taxation by one or more political subdivisions of |
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this state inventory held for sale at retail. |
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BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 1-b, Article VIII, Texas Constitution, |
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is amended by adding Subsection (t) to read as follows: |
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(t) In addition to any other exemption authorized or |
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prescribed by this section, the legislature by general law may |
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provide for an exemption from ad valorem taxation by a school |
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district of a portion of the appraised value of an individual's |
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residence homestead in an amount equal to the lesser of 50 percent |
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of the appraised value of the residence homestead after all other |
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applicable exemptions for which the individual has qualified the |
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homestead are applied or 150 percent of the median appraised value |
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of all single-family residences in the state. Where ad valorem tax |
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of a school district has previously been pledged for the payment of |
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debt, the taxing officers of the school district may continue to |
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levy and collect the tax against the value of residence homesteads |
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exempted under this subsection until the debt is discharged if the |
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cessation of the levy would impair the obligation of the contract by |
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which the debt was created. The legislature by general law may |
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prescribe procedures for the administration of the exemption |
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authorized under this subsection and may provide additional |
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eligibility requirements for the exemption. |
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SECTION 2. Article VIII, Texas Constitution, is amended by |
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adding Section 1-r to read as follows: |
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Sec. 1-r. The legislature by general law may exempt from ad |
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valorem taxation by one or more political subdivisions of this |
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state a person's inventory held for sale at retail, as defined by |
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general law. |
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SECTION 3. The following temporary provision is added to |
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the Texas Constitution: |
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TEMPORARY PROVISION. (a) This temporary provision applies |
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to the constitutional amendment proposed by the 86th Legislature, |
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Regular Session, 2019, authorizing the legislature to exempt from |
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ad valorem taxation by a school district a portion of the appraised |
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value of an individual's residence homestead in an amount equal to |
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the lesser of 50 percent of the appraised value of the residence |
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homestead after all other applicable exemptions for which the |
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individual has qualified the homestead are applied or 150 percent |
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of the median appraised value of all single-family residences in |
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the state and authorizing the legislature to exempt from ad valorem |
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taxation by one or more political subdivisions of this state |
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inventory held for sale at retail. |
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(b) Sections 1-b(t) and 1-r, Article VIII, of this |
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constitution, as added by the amendment, take effect January 1, |
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2020, and apply only to ad valorem taxes imposed for a tax year |
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beginning on or after that date. |
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(c) This temporary provision expires January 1, 2021. |
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SECTION 4. This proposed constitutional amendment shall be |
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submitted to the voters at an election to be held November 5, 2019. |
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The ballot shall be printed to permit voting for or against the |
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proposition: "The constitutional amendment authorizing the |
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legislature to exempt from ad valorem taxation by a school district |
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a portion of the appraised value of an individual's residence |
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homestead in an amount equal to the lesser of 50 percent of the |
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appraised value of the residence homestead after all other |
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applicable exemptions for which the individual has qualified the |
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homestead are applied or 150 percent of the median appraised value |
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of all single-family residences in the state and authorizing the |
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legislature to exempt from ad valorem taxation by one or more |
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political subdivisions of this state inventory held for sale at |
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retail." |