H.B. No. 155 proposes amendments to the Texas Tax Code to establish an exemption from ad valorem taxation for residence homesteads owned by individuals aged 72 or older who have maintained a homestead exemption for at least the previous ten years. The bill also allows surviving spouses of qualifying individuals to retain this exemption under certain conditions, such as being at least 55 years old at the time of the original owner's death and continuing to occupy the property as their residence homestead. Additionally, the bill modifies existing provisions related to the application and administration of these exemptions, including the introduction of new subsections and the deletion of certain previous subsections, while clarifying the responsibilities of chief appraisers in notifying individuals about their exemption status.

Moreover, the bill amends various sections of the Education Code and Government Code to enhance public meeting notices for school district budgets and tax rates, requiring specific information to be included, particularly for residents aged 72 and older. It also outlines conditions for additional state aid to school districts starting in the 2027-2028 school year. Importantly, the implementation of these provisions is contingent upon the approval of related constitutional amendments by voters, emphasizing transparency in budget discussions and ensuring adequate funding for school districts while protecting vulnerable populations. The effective date for these changes is set for January 1, 2027, pending voter approval.

Statutes affected:
Introduced: Tax Code 11.13, Tax Code 11.42, Tax Code 11.43, Tax Code 26.10, Tax Code 26.112, Tax Code 33.01, Education Code 46.071, Education Code 48.2543 (Tax Code 11, Education Code 46, Tax Code 33, Education Code 48, Tax Code 26)