HJR199 - Proposing a constitutional amendment to authorize the legislature to provide for a temporary local option exemption from ad valorem taxation by a political subdivision of the total market value of surplus real property a person purchases from a school district.

  89R16369 CJC-D     By: Perez of El Paso H.J.R. No. 199       A JOINT RESOLUTION   proposing a constitutional amendment to authorize the legislature   to provide for a temporary local option exemption from ad valorem   taxation by a political subdivision of the total market value of   surplus real property a person purchases from a school district.          BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:          SECTION 1.  Article VIII, Texas Constitution, is amended by   adding Section 1-z to read as follows:           Sec.   1-z.     The legislature by general or special law may   authorize the governing body of a political subdivision to exempt   from ad valorem taxation by the political subdivision for a period   not to exceed 10 years the total market value of surplus real   property that a person purchases from a school district.   A general   or special law adopted under this section may specify the type of   surplus real property that may be exempted under this section and   may provide additional eligibility requirements for the exemption.          SECTION 2.  This proposed constitutional amendment shall be   submitted to the voters at an election to be held November 4, 2025.   The ballot shall be printed to permit voting for or against the   proposition: "The constitutional amendment to authorize the   legislature to provide for a temporary local option exemption from   ad valorem taxation by a political subdivision of the total market   value of surplus real property a person purchases from a school   district."