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A BILL TO BE ENTITLED
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AN ACT
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relating to the determination of the total taxable value of |
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property in a school district that has entered into an agreement |
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under the Texas Economic Development Act. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 48.256(d), Education Code, is amended to |
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read as follows: |
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(d) This subsection applies to a school district in which |
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the board of trustees entered into a written agreement with a |
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property owner under Section 313.027, Tax Code, for the |
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implementation of a limitation on appraised value under Subchapter |
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B or C, Chapter 313, Tax Code. For purposes of determining "DPV" |
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under Subsection (a) for a school district to which this subsection |
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applies, the commissioner shall exclude an amount equal to one-half |
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of the [a] portion of the market value of property not otherwise |
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fully taxable by the district under Subchapter B or C, Chapter 313, |
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Tax Code, before the expiration of the subchapter. The comptroller |
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shall provide information to the agency necessary for this |
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subsection. A revenue protection payment required as part of an |
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agreement for a limitation on appraised value shall be based on the |
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district's taxable value of property for the preceding tax year. |
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SECTION 2. This Act takes effect September 1, 2021. |