88R3243 RDS-D
	By: Collier	H.B. No. 774

	A BILL TO BE ENTITLED
	AN ACT
	relating to the ad valorem tax appraisal of an older residence
	homestead located in or near a tax increment financing reinvestment
	zone.
	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
	SECTION 1.  Section 23.013, Tax Code, is amended by adding
	Subsection (f) to read as follows:
	(f)  Notwithstanding Section 1.04(7), in determining the
	market value of a residence homestead that is more than 30 years old
	and located in a tax increment financing reinvestment zone
	designated by a municipality under Chapter 311 or in the area
	adjacent to the zone, the chief appraiser for the appraisal
	district in which the property is located may, as the chief
	appraiser considers appropriate to fairly appraise the property,
	exclude from consideration the value of new or substantially
	remodeled residential properties that are located in the same
	neighborhood as the residence homestead being appraised and that
	would otherwise be considered in appraising the residence
	homestead. For purposes of this subsection, an area adjacent to a
	tax increment financing reinvestment zone means any area within two
	miles of the zone's boundaries in any direction that is not located
	within the boundaries of another reinvestment zone.
	SECTION 2.  This Act applies only to the appraisal for ad
	valorem tax purposes of a residence homestead for a tax year that
	begins on or after the effective date of this Act.
	SECTION 3.  This Act takes effect January 1, 2024, but only
	if the constitutional amendment authorizing the legislature to
	provide that the officials responsible for appraising property for
	ad valorem taxation in a county may exclude from consideration the
	value of new or substantially remodeled residential property when
	determining the market value of an older residence homestead
	located in or near a tax increment financing reinvestment zone is
	approved by the voters.  If that amendment is not approved by the
	voters, this Act has no effect.