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A BILL TO BE ENTITLED
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AN ACT
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relating to a requirement that the voter-approval tax rate of |
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certain taxing units be adjusted to reflect changes in the amount of |
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money received by the taxing unit directly from the federal |
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government. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Chapter 26, Tax Code, is amended by adding |
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Section 26.0444 to read as follows: |
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Sec. 26.0444. TAX RATE ADJUSTMENT FOR MONEY RECEIVED FROM |
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FEDERAL GOVERNMENT. (a) In this section, "direct federal |
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receipts" for a tax year means the amount of money received by a |
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taxing unit directly from the federal government for any purpose |
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during the period beginning on July 1 of the year preceding the tax |
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year for which a tax rate is adopted and ending on June 30 of the tax |
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year for which the tax rate is adopted. |
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(b) This section does not apply to a school district. |
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(c) If a taxing unit's direct federal receipts exceed the |
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amount of those receipts for the preceding tax year, the |
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voter-approval tax rate for the taxing unit is decreased by the rate |
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computed according to the following formula: |
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(Current Tax Year's Direct Federal |
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Receipts - Preceding Tax Year's Direct Federal |
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Receipts) / (Current Total Value - New Property Value) |
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(d) The taxing unit shall include a notice of the decrease |
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in the voter-approval tax rate provided by this section, including |
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a description and the amount of direct federal receipts, in the |
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information published under Section 26.04(e) and, as applicable, in |
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the notice prescribed by Section 26.06 or 26.061. |
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SECTION 2. The change in law made by this Act applies to the |
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calculation of the voter-approval rate of a taxing unit only for a |
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tax year beginning on or after the effective date of this Act. |
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SECTION 3. This Act takes effect January 1, 2022. |