| |
| |
|
|
A BILL TO BE ENTITLED
|
|
|
AN ACT
|
|
|
relating to a one-time credit against the ad valorem taxes imposed |
|
|
by a taxing unit on the first property that a person purchases and |
|
|
qualifies as the person's residence homestead and to the effect of |
|
|
the credit on the determination of the taxable value of a school |
|
|
district. |
|
|
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|
|
SECTION 1. Chapter 31, Tax Code, is amended by adding |
|
|
Section 31.039 to read as follows: |
|
|
Sec. 31.039. TAX CREDIT FOR FIRST RESIDENCE HOMESTEAD. (a) |
|
|
In this section, "residence homestead" has the meaning assigned by |
|
|
Section 11.13. |
|
|
(b) A person is entitled to a credit against the taxes |
|
|
imposed by a taxing unit on the residence homestead of the person in |
|
|
the first tax year following the year in which the person purchased |
|
|
the property if the person has not previously qualified a property |
|
|
as the person's residence homestead. |
|
|
(c) The amount of the credit is equal to the lesser of: |
|
|
(1) the amount computed by multiplying $3,000 by a |
|
|
fraction, the numerator of which is the amount of taxes imposed on |
|
|
the residence homestead by the taxing unit and the denominator of |
|
|
which is the total amount of taxes imposed on the residence |
|
|
homestead by all of the taxing units that impose taxes on the |
|
|
residence homestead; or |
|
|
(2) one-half of the amount of taxes imposed on the |
|
|
residence homestead by the taxing unit. |
|
|
(d) To receive a credit under this section, a person must |
|
|
file an application with the chief appraiser of the appraisal |
|
|
district in which the property is located. The application must |
|
|
include an affidavit affirming that the applicant is qualified for |
|
|
the credit. The application must be filed not later than the |
|
|
deadline for filing an application for a residence homestead |
|
|
exemption on the property for the tax year, including any provision |
|
|
authorizing the filing of a late application. |
|
|
(e) The chief appraiser shall approve or deny an application |
|
|
under this section for each taxing unit for which the appraisal |
|
|
district appraises the property. A determination of the chief |
|
|
appraiser is subject to protest and appeal in the same manner as a |
|
|
determination to approve or deny an application for a residence |
|
|
homestead exemption. |
|
|
(f) The chief appraiser shall forward a copy of the |
|
|
application to the assessor for each taxing unit that imposes taxes |
|
|
on the residence homestead and certify to the assessor whether the |
|
|
chief appraiser has approved or denied the application. |
|
|
(g) The comptroller shall adopt rules for the |
|
|
administration of this section, including rules prescribing the |
|
|
documentation required to establish qualification for the credit. |
|
|
(h) A person who has previously received a credit under this |
|
|
section may not receive a credit under this section in a subsequent |
|
|
tax year. |
|
|
SECTION 2. Section 403.302, Government Code, is amended by |
|
|
adding Subsection (d-2) to read as follows: |
|
|
(d-2) For purposes of Subsection (d), taxable value does not |
|
|
include an amount equal to the taxable value required to generate |
|
|
revenue, when taxed at the school district's tax rate in the year |
|
|
that is the subject of the study, in an amount that is equal to the |
|
|
total amount of the credits provided by the district under Section |
|
|
31.039, Tax Code, in that year. |
|
|
SECTION 3. This Act applies only to ad valorem taxes imposed |
|
|
for a tax year beginning on or after the effective date of this Act. |
|
|
SECTION 4. This Act takes effect January 1, 2026, but only |
|
|
if the constitutional amendment proposed by the 89th Legislature, |
|
|
Regular Session, 2025, to authorize the legislature to provide for |
|
|
a one-time credit against the ad valorem taxes imposed by a |
|
|
political subdivision on the first property that a person purchases |
|
|
and qualifies as the person's residence homestead and to provide |
|
|
for the reimbursement of political subdivisions for the revenue |
|
|
loss incurred as a result of the credit is approved by the voters. |
|
|
If that amendment is not approved by the voters, this Act has no |
|
|
effect. |