Proposing a constitutional amendment to abolish ad valorem taxes.

The text as introduced · 231 words

90R2003 CS-D

By: Money
H.J.R. No. 23

A JOINT RESOLUTION

proposing a constitutional amendment to abolish ad valorem taxes.

BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:

SECTION 1. Section 1, Article VIII, Texas Constitution, is

amended by adding Subsections (k) and (l) to read as follows:

(k) Except as provided by Subsection (l) of this section, a

political subdivision of this state may not impose an ad valorem tax

for any purpose on or after January 1, 2032.

(l) On or after January 1, 2032, a political subdivision of

this state shall impose an ad valorem tax on taxable property in the

political subdivision in accordance with the law as it existed

immediately before that date as necessary to repay the principal of

and interest on bonds or other obligations issued by the political

subdivision before that date that are secured wholly or partly by

the revenue from the ad valorem taxes imposed by the political

subdivision until the obligations are paid in full. The revenue

from ad valorem taxes imposed under this subsection may be used only

for the purpose described by this subsection.

SECTION 2. This proposed constitutional amendment shall be

submitted to the voters at an election to be held November 2, 2027.

The ballot shall be printed to permit voting for or against the

proposition: "The constitutional amendment to abolish ad valorem

taxes."