87S10139 TJB-D
 
  By: Bettencourt S.B. No. 8
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to the authority of a person who acquires a residence
  homestead to receive an ad valorem tax exemption for the homestead
  in the year in which the property is acquired.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Section 11.42(d), Tax Code, is amended to read as
  follows:
         (d)  A person who acquires property after January 1 of a tax
  year may receive an exemption authorized by Section 11.13, other
  than an exemption authorized by Section 11.13(c) or (d), 11.17,
  11.18, 11.19, 11.20, 11.21, 11.23, 11.231, or 11.30 for the
  applicable portion of that tax year immediately on qualification
  for the exemption.
         SECTION 2.  Chapter 26, Tax Code, is amended by adding
  Section 26.1115 to read as follows:
         Sec. 26.1115.  CALCULATION OF TAXES ON RESIDENCE HOMESTEAD
  GENERALLY. (a) If an individual receives one or more exemptions
  under Section 11.13 for a portion of a tax year as provided by
  Section 11.42(d), except as provided by Subsection (b) of this
  section, the amount of tax due on the property for that year is
  calculated by:
               (1)  subtracting:
                     (A)  the amount of the taxes that otherwise would
  be imposed on the property for the entire year had the individual
  qualified for the exemptions for the entire year; from
                     (B)  the amount of the taxes that otherwise would
  be imposed on the property for the entire year had the individual
  not qualified for the exemptions during the year;
               (2)  multiplying the remainder determined under
  Subdivision (1) by a fraction, the denominator of which is 365 and
  the numerator of which is the number of days in that year that
  elapsed before the date the individual first qualified the property
  for the exemptions; and
               (3)  adding the product determined under Subdivision
  (2) and the amount described by Subdivision (1)(A).
         (b)  If an individual receives one or more exemptions to
  which Subsection (a) of this section applies for a portion of a tax
  year as provided by Section 11.42(d) and the exemptions terminate
  during the year in which the individual acquired the property, the
  amount of tax due on the property for that year is calculated by:
               (1)  subtracting:
                     (A)  the amount of the taxes that otherwise would
  be imposed on the property for the entire year had the individual
  qualified for the exemptions for the entire year; from
                     (B)  the amount of the taxes that otherwise would
  be imposed on the property for the entire year had the individual
  not qualified for the exemptions during the year;
               (2)  multiplying the remainder determined under
  Subdivision (1) by a fraction, the denominator of which is 365 and
  the numerator of which is the sum of:
                     (A)  the number of days in that year that elapsed
  before the date the individual first qualified the property for the
  exemptions; and
                     (B)  the number of days in that year that elapsed
  after the date the exemptions terminated; and
               (3)  adding the product determined under Subdivision
  (2) and the amount described by Subdivision (1)(A).
         (c)  If an individual qualifies to receive an exemption as
  described by Subsection (a) with respect to a property after the
  amount of tax due on the property is calculated and if the effect of
  the qualification is to reduce the amount of tax due on the
  property, the assessor for each taxing unit shall recalculate the
  amount of the tax due on the property and correct the tax roll. If
  the tax bill has been mailed and the tax on the property has not been
  paid, the assessor shall mail a corrected tax bill to the individual
  in whose name the property is listed on the tax roll or to the
  individual's authorized agent. If the tax on the property has been
  paid, the collector for the taxing unit shall refund to the
  individual who paid the tax the amount by which the payment exceeded
  the tax due.
         SECTION 3.  This Act applies only to a residence homestead
  acquired on or after the effective date of this Act.
         SECTION 4.  This Act takes effect January 1, 2022.