BILL ANALYSIS

Senate Research Center	S.J.R. 2
	By: Bettencourt
	Finance
	10/19/2021
	Enrolled

AUTHOR'S / SPONSOR'S STATEMENT OF INTENT

S.J.R. 2 proposes a constitutional amendment increasing the amount of the residence homestead exemption from ad valorem taxation for public school purposes.

RULEMAKING AUTHORITY

This bill does not expressly grant any additional rulemaking authority to a state officer, institution, or agency.

SECTION BY SECTION ANALYSIS

SECTION 1. Amends Section 1-b(c), Article VIII, Texas Constitution, to provide that the amount of $40,000, rather than $25,000, of the market value of the residence homestead of a married or unmarried adult, including one living alone, is exempt from ad valorem taxation for general elementary and secondary public school purposes.

SECTION 2. Provides that the following temporary provision is added to the Texas Constitution:

TEMPORARY PROVISION. (a) Provides that this temporary provision applies to the constitutional amendment proposed by the 87th Legislature, 3rd Called Session, 2021, increasing the amount of the residence homestead exemption from ad valorem taxation for public school purposes.

(b) Provides that the amendment to Section 1-b(c), Article VIII, of this constitution takes effect January 1, 2022, and applies only to a tax year beginning on or after that date.

(c) Provides that this temporary provision expires January 1, 2023.

SECTION 3. Requires that the proposed constitutional amendment be submitted to the voters at an election to be held May 7, 2022. Sets forth the required language of the ballot.