Bill Text: TX HJR194 | 2023-2024 | 88th Legislature | Introduced

Texas House Joint Resolution 194 (Prior Session Legislation)

Introduced

Bill Title: 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 residence homestead of a first-time home buyer and to provide for the reimbursement of political subdivisions for the revenue loss incurred as a result of the credit.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2023-03-23 - Referred to Ways & Means [HJR194 Detail]

Download: Texas-2023-HJR194-Introduced.html



	By: Bhojani	H.J.R. No. 194



	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 residence homestead of a
	first-time home buyer 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 the person's first home is entitled to a
	one-time credit against the ad valorem taxes imposed by political
	subdivisions on the home in the first tax year in which the property
	qualifies as the person's residence homestead. The amount of the
	credit in the aggregate may not exceed the lesser of $3,000 or
	one-half of the amount of taxes otherwise imposed on the property by
	political subdivisions.
	(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 7, 2023.
	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 residence homestead
	of a first-time home buyer and to provide for the reimbursement of
	political subdivisions for the revenue loss incurred as a result of
	the credit."