| |
| |
|
|
A BILL TO BE ENTITLED
|
|
|
AN ACT
|
|
|
relating to a study regarding ad valorem tax relief through the use |
|
|
of a circuit breaker program. |
|
|
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|
|
SECTION 1. (a) In this section: |
|
|
(1) "Circuit breaker program" means a program that |
|
|
limits the amount of ad valorem taxes that may be imposed on a |
|
|
residence homestead based on the owner's annual income. |
|
|
(2) "Residence homestead" has the meaning assigned by |
|
|
Section 11.13, Tax Code. |
|
|
(b) The comptroller shall conduct a study to examine circuit |
|
|
breaker programs as a means of expanding and protecting the |
|
|
homestead interests of low-income and moderate-income families. |
|
|
(c) Before collecting information for purposes of the |
|
|
study, the comptroller shall establish an advisory committee to |
|
|
assist the comptroller in conducting the study. The advisory |
|
|
committee must be composed of representatives of: |
|
|
(1) school districts and other taxing units; |
|
|
(2) home builders; |
|
|
(3) real estate agents; |
|
|
(4) mortgage lenders; |
|
|
(5) financial agencies involved in mortgage markets; |
|
|
(6) organizations interested in housing for |
|
|
low-income and moderate-income households; |
|
|
(7) organizations interested in the effect of ad |
|
|
valorem taxes on low-income and moderate-income households; |
|
|
(8) organizations interested in the effect of public |
|
|
policy on low-income and moderate-income households; and |
|
|
(9) other appropriate, interested organizations or |
|
|
members of the public, as determined by the comptroller. |
|
|
(d) The comptroller and the advisory committee shall |
|
|
analyze the information studied and prepare a report containing the |
|
|
results of the study conducted under this section. |
|
|
(e) The comptroller may contract with appraisal districts, |
|
|
taxing units, or other appropriate organizations for assistance and |
|
|
to obtain information necessary to conduct the study. A state |
|
|
agency, appraisal district, or taxing unit shall assist the |
|
|
comptroller if the comptroller requests information or assistance |
|
|
in conducting the study. |
|
|
(f) Not later than December 1, 2020, the comptroller shall |
|
|
submit to the governor, lieutenant governor, and speaker of the |
|
|
house of representatives the report prepared under Subsection (d) |
|
|
of this section. |
|
|
(g) This section expires September 1, 2021. |
|
|
SECTION 2. This Act takes effect September 1, 2019. |