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A BILL TO BE ENTITLED
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AN ACT
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relating to an exemption from ad valorem taxation by a taxing unit |
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located wholly or partly in a populous county of a specified dollar |
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amount, or a greater dollar amount specified by the governing body |
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of the taxing unit, of the appraised value of a residence homestead. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 11.13, Tax Code, is amended by amending |
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Subsection (i) and adding Subsection (s) to read as follows: |
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(i) The assessor and collector for a taxing unit may |
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disregard the exemptions authorized by Subsection (b), (c), (d), |
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[or] (n), or (s) [of this section] and assess and collect a tax |
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pledged for payment of debt without deducting the amount of the |
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exemption if: |
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(1) prior to adoption of the exemption, the taxing |
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unit pledged the taxes for the payment of a debt; and |
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(2) granting the exemption would impair the obligation |
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of the contract creating the debt. |
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(s) This subsection applies only to a taxing unit located |
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wholly or partly in a county with a population of 200,000 or more. |
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In addition to any other exemptions provided by this section, an |
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individual is entitled to an exemption from taxation by a taxing |
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unit of $25,000, or a greater dollar amount specified by the |
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governing body of the taxing unit before July 1 in the manner |
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provided by law for official action of the body, of the appraised |
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value of the individual's residence homestead. |
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SECTION 2. This Act applies only to ad valorem taxes imposed |
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for a tax year that begins on or after the effective date of this |
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Act. |
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SECTION 3. This Act takes effect January 1, 2024, but only |
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if the constitutional amendment proposed by the 88th Legislature, |
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Regular Session, 2023, authorizing the legislature to provide for |
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an exemption from ad valorem taxation by a political subdivision |
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located wholly or partly in a populous county of a specified dollar |
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amount, or a greater dollar amount specified by the governing body |
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of the political subdivision, of the assessed value of a residence |
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homestead is approved by the voters. If that amendment is not |
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approved by the voters, this Act has no effect. |