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A JOINT RESOLUTION
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proposing a constitutional amendment to abolish ad valorem taxes. |
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BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 1, Article VIII, Texas Constitution, is |
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amended by adding Subsections (k) and (l) to read as follows: |
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(k) Except as provided by Subsection (l) of this section, a |
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political subdivision of this state may not impose an ad valorem tax |
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for any purpose on or after January 1, 2030. |
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(l) On or after January 1, 2030, a political subdivision of |
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this state shall impose an ad valorem tax on taxable property in the |
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political subdivision in accordance with the law as it existed |
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immediately before that date as necessary to repay the principal of |
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and interest on bonds or other obligations issued by the political |
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subdivision before that date that are secured wholly or partly by |
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the revenue from the ad valorem taxes imposed by the political |
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subdivision until the obligations are paid in full. The revenue |
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from ad valorem taxes imposed under this subsection may be used only |
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for the purpose described by this subsection. |
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SECTION 2. This proposed constitutional amendment shall be |
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submitted to the voters at an election to be held November 4, 2025. |
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The ballot shall be printed to permit voting for or against the |
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proposition: "The constitutional amendment to abolish ad valorem |
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taxes." |