21
Feature
PROPERTY AND BUSINESS TAXES
*HB 32 (Rep. D. Bonnen/Sen. Nelson)
Relating to decreasing the rates of the
franchise tax.
Reduces the franchise tax by
25%. Reduces the E-Z tax rate from 0.575%
to 0.331%. Increases the availability of the E-Z
calculation to business with a total revenue
of $20 million and less. Makes 2013 rate
reductions permanent. Provides approximately
$2.6 billion in tax relief for businesses.
Effective Jan. 1, 2016.
HB 992 (Rep. D. Bonnen/Sen. L. Taylor)
Relating to the exemption from ad
valorem taxation of the total appraised
value of the residence homestead of
the surviving spouse of a 100 percent or
totally disabled veteran.
Extends the 100
percent homestead exemption of the surviving
spouse of a deceased, totally disabled veteran to
apply to the surviving spouse of a totally disabled
veteran who died before the exemption went into
effect. Enabling legislation for HJR 75.
Effective Jan. 1, 2016, contingent on voter
approval of Prop 2 on the Nov. 3, 2015 ballot.
HB 2083 (Rep. Darby/Sen. Hancock)
Relating to the determination of the
appraised value of property for purposes
of an ad valorem tax protest or appeal.
Ensures all property owners are treated equally by
requiring the selection of comparable properties
and the application of appropriate adjustments
for the determination of an appraised value of
property to be based upon the application of
generally accepted methods and techniques.
Effective Jan. 1, 2016.
HJR 75 (Rep. D. Bonnen/Sen. L. Taylor)
Proposing a constitutional amendment
authorizing the legislature to provide
for an exemption from ad valorem
taxation of all or part of the market
value of the residence homestead
of the surviving spouse.
Authorizes
the legislature to extend the 100 percent
homestead exemption of the surviving spouse
of a deceased, totally disabled veteran to
the surviving spouse of an otherwise eligible
totally disabled veteran who died before
the exemption went into effect. Enabling
legislation is HB 992.
Listed as Prop 2 on the Nov. 3, 2015 ballot.
*SB 1 (Sen. Nelson/Rep. D. Bonnen)
Relating to certain restrictions on the
imposition of ad valorem taxes and
to the duty of the state to reimburse
certain political subdivisions for certain
revenue loss.
Raises the mandatory homestead
exemption from school district taxes from
$15,000 to $25,000. Reduces the tax freeze to
reflect the higher exemption amount. Establishes
a procedure for mailing supplemental tax bills
reflecting the exemption for 2015, if approved
by the voters. Prohibits a school district, city, or
county that adopted an optional exemption for
the 2014 tax year from repealing or lowering
the exemption until December 31, 2019. Holds
school districts harmless from the increase in the
homestead exemption and provides additional
state aid for lost property tax revenue for debt
service purposes. Enabling legislation for SJR 1.
Effective Immediately. The homestead
exemption is effective Jan. 1, 2016,
contingent on voter approval of Prop 1 on
the Nov. 3, 2015 ballot.
*SJR 1 (Sen. Nelson/Rep. D. Bonnen)
Proposing a constitutional amendment
providing for an exemption from ad
valorem taxation for public school
purposes of a portion of the market value
of a residence homestead based on the
median market value of all residence
homesteads in the state, providing for a
reduction of the limitation on the total
amount of ad valorem taxes that may
be imposed for those purposes on the
homestead of an elderly or disabled
person to reflect the increased exemption
amount, authorizing the legislature to
prohibit a political subdivision that has
adopted an optional residence homestead
exemption from reducing the amount of or
repealing the exemption, and prohibiting
the imposition or collection of a tax on the
conveyance of an interest in real property.
Raises the mandatory homestead exemption from
school district taxes from $15,000 to $25,000.
Authorizes the legislature to prohibit a taxing
unit other than a school district from repealing
or reducing a local option homestead exemption.
Reduces the tax freeze to reflect the higher
exemption amount. Prohibits a transfer tax on a
transaction that conveys a fee simple interest in
real estate. Enabling legislation is SB 1.
Listed as Prop 1 on the Nov. 3, 2015 ballot.
For more information on tax relief,
see the box titled “Tax Relief” on page 20.
ACCESS TO CAREER AND
TECHNICAL EDUCATION
HB 18 (Rep. Aycock/Sen. Perry)
Relating
to college and career readiness training
for certain public school counselors.
Creates Postsecondary Education and Career
Counseling Academies for middle, junior high
and high school counselors. Establishes college
and career readiness training academies for
counselors in public schools: middle, junior
high and high schools. The Center for Teaching
and Learning at the University of Texas at
Austin will develop the academies and solicit
input from the Texas Education Agency, school
counselors, the Texas Workforce Commission,
institutions of higher education, and business,
community, and school leaders. Lifts the cap
on dual credit courses a student can take in
all Texas high schools, not just early college
high schools as in current law. Adds a 7th
or 8th grade semester course on career and
college readiness to explore graduation plans,
endorsements, and college and career choices
(all students must pick an endorsement upon
entering 9th grade). Adds outreach materials
to foster awareness of the public school
curriculum changes.
Effective Immediately.
HB 505 (Rep. E. Rodriguez/Sen. Estes)
Relating to a prohibition of limitations
on the number of dual credit courses
or hours in which a public high school
student may enroll.
Removes the dual credit
caps at traditional high schools.
Effective Immediately.
*
Denotes a TAB Priority Bill
