Honorable Paul Bettencourt, Chair, Senate Committee on Property Tax
FROM:
John McGeady, Assistant Director Sarah Keyton, Assistant Director Legislative Budget Board
IN RE:
SJR74 by Creighton (Proposing a constitutional amendment authorizing the legislature to exempt from ad valorem taxation real property leased to certain schools organized and operated primarily for the purpose of engaging in educational functions.), As Introduced
No fiscal implication to the State is anticipated, other than the cost of publication. Any additional fiscal implication would be attributable to the corresponding enabling legislation.
The cost to the state for publication of the resolution is $177,289.
The resolution would propose an amendment to Section 2(a), Article VIII, of the Texas Constitution, to add any real property that is leased to a person for use as a statutorily defined school that operates under a charter granted by the State Board of Education, the commissioner of education, or any other state agency or officer to the list of property tax exemptions the Legislature is permitted to grant.
Voter approval of the proposed constitutional amendment alone would have no fiscal impact on the state or units of local government. Any fiscal impact would depend on the corresponding enabling legislation (SB 2345).
The cost to the state for publication of the resolution is $177,289.
The proposed amendment would be submitted to voters at an election to be held November 5, 2019, and would take effect beginning with the tax year that begins January 1, 2020 if approved by the voters.
Local Government Impact
The proposed constitutional amendment alone would have no fiscal implication to units of local government. Any fiscal implication would be attributable to the corresponding enabling legislation.