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A JOINT RESOLUTION
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proposing a constitutional amendment providing for the creation of |
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the property tax reduction fund and dedicating certain surplus |
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state revenue to the fund. |
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BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Article VIII, Texas Constitution, is amended by |
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adding Section 7-f to read as follows: |
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Sec. 7-f. (a) In this section: |
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(1) "Fund" means the property tax reduction fund. |
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(2) "Sales tax revenue" means the revenue received by |
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this state from the imposition of state sales and use taxes on the |
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sale, storage, use, or other consumption in this state of taxable |
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items under Chapter 151, Tax Code, or its successor. |
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(b) The property tax reduction fund is established as a |
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special fund outside the general revenue fund in the state |
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treasury. The comptroller of public accounts shall administer the |
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fund. |
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(c) The fund consists of: |
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(1) money transferred or deposited to the credit of |
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the fund; and |
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(2) the interest and other earnings attributable to |
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the investment of money in the fund. |
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(d) The comptroller of public accounts shall: |
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(1) allocate for deposit to the credit of the fund |
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sales tax revenue in an amount equal to 60 percent of the amount by |
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which the amount of sales tax revenue received in a state fiscal |
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biennium exceeds the amount of that revenue that may be spent during |
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that biennium in accordance with the limit on the rate of growth of |
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appropriations for that biennium provided by general law; and |
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(2) periodically deposit to the credit of the fund the |
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sales tax revenue allocated under Subdivision (1) of this |
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subsection, with the final deposit for that biennium to be made not |
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later than the 90th day of the following state fiscal biennium. |
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(e) Subject to Subsection (f) of this section, money in the |
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fund may be used only to reduce school district maintenance and |
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operations ad valorem taxes. |
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(f) If the amount of money in the fund exceeds the amount of |
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money required to eliminate school district maintenance and |
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operations ad valorem taxes for a state fiscal year, the |
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legislature may appropriate the surplus amount to reduce any other |
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state tax in any manner authorized by general law. |
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(g) On July 1, 2026, the comptroller of public accounts |
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shall transfer to the fund an amount of general revenue equal to 90 |
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percent of the amount of federal money received by this state under |
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the One Big Beautiful Bill Act (Pub. L. No. 119-21) for the purpose |
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of reimbursing this state for expenses related to border security. |
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This subsection expires August 1, 2026. |
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SECTION 2. The following temporary provision is added to |
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the Texas Constitution: |
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TEMPORARY PROVISION. (a) This temporary provision applies |
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to the constitutional amendment proposed by the 89th Legislature, |
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1st Called Session, 2025, providing for the creation of the |
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property tax reduction fund and dedicating certain surplus state |
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revenue to the fund. |
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(b) Section 7-f(d), Article VIII, of this constitution |
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takes effect beginning with the state fiscal biennium beginning |
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September 1, 2027. |
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(c) This temporary provision expires September 1, 2028. |
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SECTION 3. This proposed constitutional amendment shall be |
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submitted to the voters at an election to be held May 2, 2026. The |
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ballot shall be printed to permit voting for or against the |
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proposition: "The constitutional amendment providing for the |
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creation of the property tax reduction fund and dedicating certain |
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surplus state revenue to the fund." |