HJR209 - Proposing a constitutional amendment to authorize the legislature to provide for a one-time credit against the ad valorem taxes imposed by a political subdivision on the first property that a person purchases and qualifies as the person's residence homestead and to provide for the reimbursement of political subdivisions for the revenue loss incurred as a result of the credit.

  89R6216 LHC-F     By: Bhojani H.J.R. No. 209       A JOINT RESOLUTION   proposing a constitutional amendment to authorize the legislature   to provide for a one-time credit against the ad valorem taxes   imposed by a political subdivision on the first property that a   person purchases and qualifies as the person's residence homestead   and to provide for the reimbursement of political subdivisions for   the revenue loss incurred as a result of the credit.          BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:          SECTION 1.  Article VIII, Texas Constitution, is amended by   adding Section 1-q to read as follows:           Sec.   1-q.     (a)   The legislature by general law may provide   that a person who purchases a home is entitled to a one-time credit   against the ad valorem taxes imposed by a political subdivision on   the home in the first tax year in which the property qualifies as   the person's residence homestead if the person has not previously   qualified a property as the person's residence homestead. The   amount of the credit may not exceed the lesser of:                 (1)     the amount computed by multiplying $3,000 by a   fraction, the numerator of which is the amount of taxes imposed on   the residence homestead by the political subdivision and the   denominator of which is the total amount of taxes imposed on the   residence homestead by all of the political subdivisions that   impose taxes on the residence homestead; or                 (2)     one-half of the amount of taxes imposed by the   political subdivision on the residence homestead.           (b)     The legislature may prescribe additional eligibility   requirements for receiving a credit under this section.           (c)     Notwithstanding any other provision of this   constitution, the legislature by general law may authorize the use   of state money to reimburse a political subdivision for the revenue   loss incurred by the political subdivision as a result of the tax   credit authorized by this section and shall provide a procedure for   distributing any money appropriated for that purpose.          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 one-time credit against the ad valorem   taxes imposed by a political subdivision on the first property that   a person purchases and qualifies as the person's residence   homestead and to provide for the reimbursement of political   subdivisions for the revenue loss incurred as a result of the   credit."