88(R) HB 2889 - Introduced version - Bill Text
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A BILL TO BE ENTITLED
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AN ACT
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relating to a credit against the ad valorem taxes imposed by a |
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taxing unit on the residence homestead of a married couple that |
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increases in amount based upon the number of children of the couple |
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and reimbursement to taxing units for the revenue loss incurred as a |
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result of the credit. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Chapter 31, Tax Code, is amended by adding |
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Section 31.038 to read as follows: |
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Sec. 31.038. HOMESTEAD TAX CREDIT FOR CERTAIN MARRIED |
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COUPLES. (a) In this section: |
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(1) "Qualifying child" means a child of any age who is: |
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(A) a natural child of both spouses of a |
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qualifying married couple born after the date on which the |
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qualifying married couple married; |
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(B) an adopted child of both spouses of a |
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qualifying married couple adopted after the date on which the |
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qualifying married couple married; or |
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(C) the adopted child of one spouse of a |
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qualifying married couple adopted after the date on which the |
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qualifying married couple married if the child is the natural or |
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adopted child of the other spouse and that other spouse was a widow |
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or widower before the date on which the qualifying married couple |
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married. |
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(2) "Qualifying married couple" means a man and a |
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woman who are legally married to each other, neither of whom have |
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ever been divorced. |
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(3) "Residence homestead" has the meaning assigned by |
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Section 11.13. |
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(b) A qualifying married couple is entitled to a credit |
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against the taxes imposed in a tax year by a taxing unit on the |
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residence homestead of the couple in which both spouses reside. |
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Subject to Subsection (c), the amount of the credit is equal to the |
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amount, expressed in decimal form rounded to the nearest hundredth, |
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computed by multiplying the amount of taxes imposed by the taxing |
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unit in the applicable tax year on the qualifying married couple's |
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residence homestead by 10 percent. |
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(c) A qualifying married couple with four or more qualifying |
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children may substitute the following, as applicable, for 10 |
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percent when computing the amount of credit to which the couple is |
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entitled under Subsection (b): |
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(1) 40 percent, if the qualifying married couple have |
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four qualifying children; |
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(2) 50 percent, if the qualifying married couple have |
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five qualifying children; |
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(3) 60 percent, if the qualifying married couple have |
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six qualifying children; |
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(4) 70 percent, if the qualifying married couple have |
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seven qualifying children; |
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(5) 80 percent, if the qualifying married couple have |
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eight qualifying children; |
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(6) 90 percent, if the qualifying married couple have |
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nine qualifying children; or |
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(7) 100 percent, if the qualifying married couple have |
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10 or more qualifying children. |
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(d) A qualifying married couple is entitled to compute the |
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amount of the credit authorized under this section in the manner |
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provided by Subsection (c) regardless of whether: |
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(1) the qualifying children reside in the same |
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residence homestead in which both spouses of the qualifying married |
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couple reside; or |
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(2) one or more of the qualifying children dies. |
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(e) If one spouse of a qualifying married couple that is |
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entitled to a credit under this section dies, the surviving spouse |
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is entitled to receive the credit authorized by this section for as |
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long as the surviving spouse remains unmarried.Statutes affected:
Introduced: ()
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