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A BILL TO BE ENTITLED
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AN ACT
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relating to the dedication of certain surplus state revenue for ad |
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valorem tax relief. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter G, Chapter 403, Government Code, is |
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amended by adding Section 403.108 to read as follows: |
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Sec. 403.108. DEDICATION OF SURPLUS GENERAL |
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REVENUE-RELATED FUNDS TO AD VALOREM TAX RELIEF. (a) From the |
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estimated ending certification balance in a state fiscal biennium, |
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less transfers, the comptroller shall, not later than the 90th day |
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of each biennium, transfer to a dedicated account in the general |
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revenue fund the greater of: |
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(1) $1.5 billion; or |
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(2) an amount equal to 10 percent of the estimated |
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ending certification balance in a state fiscal biennium, less |
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transfers. |
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(b) In addition to funds transferred to the account |
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described by subsection (a), the legislature may appropriate funds |
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to the account described by subsection (a) out of revenue available |
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for general-purpose spending through the upcoming biennium. |
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(c) Money deposited to the account described in subsection |
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(a) shall only be appropriated by the legislature to provide ad |
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valorem tax relief. |
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SECTION 2. This Act applies beginning with the state fiscal |
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biennium beginning on September 1, 2027. |
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SECTION 3. This Act takes effect September 1, 2025. |