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TX HB558
Bill
Status
11/12/2024
Primary Sponsor
Mike Schofield
Click for details
AI Summary
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Changes how optional homestead exemptions under Tax Code Section 11.13(n) are counted in school finance calculations by deducting the full dollar amount rather than only one-half, increasing state funding to districts that offer these exemptions
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Repeals Education Code Section 48.259, which previously addressed additional state aid related to optional homestead exemptions
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Removes Section 48.259 from the list of provisions that can receive priority use of excess foundation school program funds, updating the fund allocation hierarchy
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Applies to school district property value studies conducted for tax years beginning on or after January 1, 2026
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Takes effect September 1, 2025
Legislative Description
Relating to the provision of funding under the public school finance system on the basis of property values that take into account optional homestead exemptions.
Property Interests
Last Action
Referred to Public Education
3/3/2025