Bill Text: TX HB150 | 2017-2018 | 85th Legislature | Comm Sub
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Relating to the exemption from ad valorem taxation of, and the deferral or abatement of ad valorem taxes on, certain residence homesteads.
Spectrum: Bipartisan Bill
Status: (Passed) 2017-06-15 - See remarks for effective date [HB150 Detail]
Download: Texas-2017-HB150-Comm_Sub.html
Bill Title: Relating to the exemption from ad valorem taxation of, and the deferral or abatement of ad valorem taxes on, certain residence homesteads.
Spectrum: Bipartisan Bill
Status: (Passed) 2017-06-15 - See remarks for effective date [HB150 Detail]
Download: Texas-2017-HB150-Comm_Sub.html
85R987 TJB-D | ||
By: Bell, Metcalf, Guillen, Shine, Blanco, | H.B. No. 150 | |
et al. |
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relating to the exemption from ad valorem taxation of part of the | ||
appraised value of the residence homestead of a partially disabled | ||
veteran or the surviving spouse of a partially disabled veteran if | ||
the residence homestead was donated to the disabled veteran by a | ||
charitable organization for less than the market value of the | ||
residence homestead. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Section 11.132(b), Tax Code, is amended to read | ||
as follows: | ||
(b) A disabled veteran who has a disability rating of less | ||
than 100 percent is entitled to an exemption from taxation of a | ||
percentage of the appraised value of the disabled veteran's | ||
residence homestead equal to the disabled veteran's disability | ||
rating if the residence homestead was donated to the disabled | ||
veteran by a charitable organization: | ||
(1) at no cost to the disabled veteran; or | ||
(2) at some cost to the disabled veteran in the form of | ||
a cash payment, a mortgage, or both in an aggregate amount that is | ||
not more than 50 percent of the good faith estimate of the market | ||
value of the residence homestead made by the charitable | ||
organization as of the date the donation is made. | ||
SECTION 2. This Act applies only to ad valorem taxes imposed | ||
for an ad valorem tax year that begins on or after the effective | ||
date of this Act. | ||
SECTION 3. This Act takes effect January 1, 2018, but only | ||
if the constitutional amendment proposed by the 85th Legislature, | ||
Regular Session, 2017, authorizing the legislature to provide for | ||
an exemption from ad valorem taxation of part of the market value of | ||
the residence homestead of a partially disabled veteran or the | ||
surviving spouse of a partially disabled veteran if the residence | ||
homestead was donated to the disabled veteran by a charitable | ||
organization for less than the market value of the residence | ||
homestead and harmonizing certain related provisions of the Texas | ||
Constitution is approved by the voters. If that amendment is not | ||
approved by the voters, this Act has no effect. |