S.B. No. 1023 proposes amendments to the Texas Tax Code regarding the calculation of ad valorem tax rates. The bill mandates that tax rate calculation forms must be in an electronic format that allows for electronic completion and certification by designated officers. Notably, the forms must now include hyperlinks to documents that verify the accuracy of each entry, except for mathematical calculations. Additionally, the bill introduces a new requirement for taxing units to calculate adjustments to property values and taxes separately for each reinvestment zone they participate in, ensuring that the tax rate calculations reflect these adjustments.

The bill also specifies that the designated officer or employee must utilize the prescribed tax rate calculation forms when determining the no-new-revenue tax rate and the voter-approval tax rate, incorporating the new hyperlink requirement for verification. This legislation will take effect on January 1, 2026, and will apply to tax years beginning on or after that date.

Statutes affected:
Introduced: Tax Code 5.07, Tax Code 26.03 (Tax Code 26, Tax Code 5)
Senate Committee Report: Tax Code 5.07, Tax Code 26.03 (Tax Code 26, Tax Code 5)