TX HB5451

Increases the residential property threshold for designating a reinvestment zone from 30% to 40%, and excludes residence homesteads owned by "legacy homeowners" from the residential property calculation

Defines "legacy homeowner" as someone who has continuously resided in and received a homestead exemption for their property for at least 7 years before the reinvestment zone was designated

Authorizes reinvestment zone boards to establish a "reinvestment zone stability program" to prevent homeowner displacement by making annual payments to offset property tax increases for legacy homeowners

Limits annual payments to legacy homeowners to the difference between current year taxes and taxes from the year the zone was designated, with a maximum payment period of 10 years

Requires legacy homeowners to meet income eligibility requirements and other conditions specified in the project plan to qualify for payments under the stability program