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A JOINT RESOLUTION
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proposing a constitutional amendment to abolish ad valorem taxes. |
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BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 1, Article VIII, Texas Constitution, is |
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amended by adding Subsections (b-1) and (b-2) to read as follows: |
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(b-1) A political subdivision of this state may not impose |
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an ad valorem tax on real or personal property in this state for any |
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purpose on or after January 1, 2029. |
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(b-2) The state takes full responsibility for the guarantee |
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of the repayment of all bonds issued by a school district before May |
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4, 2024, and secured by the revenue from the ad valorem taxes |
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imposed by those entities before January 1, 2029. The legislature |
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shall enact laws for the implementation of this subsection. |
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SECTION 2. This proposed constitutional amendment shall be |
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submitted to the voters at an election to be held May 4, 2024. The |
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ballot shall be printed to permit voting for or against the |
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proposition: "The constitutional amendment to abolish ad valorem |
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taxes." |