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TX HJR200
Joint Resolution
Status
3/14/2025
Primary Sponsor
John Bryant
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AI Summary
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Authorizes the legislature to exempt from school district property taxes up to 50% of the market value of "qualified residential real property" — defined as multifamily rental properties at least 15 years old used as primary residences by tenants
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Creates exemption for any increase in market value of qualified properties attributable to rehabilitation improvements
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Establishes the "property tax relief to rental households fund" in the state treasury, which can only be used for direct payments to rental households for property tax relief
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Appropriates $3.8 billion from general revenue to the fund on January 1, 2026, for direct payments to rental households during the fiscal biennium ending August 31, 2027
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Excludes payments from the rental households fund from constitutional spending limits on appropriation growth
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Requires voter approval at an election on November 4, 2025, with temporary provisions expiring December 31, 2026 or January 1, 2027
Legislative Description
Proposing a constitutional amendment to authorize the legislature to provide for an exemption from ad valorem taxation by a school district of a portion of the market value of certain leased residential real properties, to establish and prescribe the permissible uses of the property tax relief to rental households fund, and to include payments from the property tax relief to rental households fund in the exception of certain appropriations to pay for ad valorem tax relief from the constitutional limitation on the rate of growth of appropriations.
Property Interests
Last Action
Referred to Ways & Means
4/3/2025