H.B. No. 155 proposes amendments to the Texas Tax Code to exempt the total appraised value of residence homesteads from ad valorem taxation for certain elderly individuals aged 72 or older and their surviving spouses. The bill introduces a new exemption for those who have held a homestead exemption for at least the preceding ten years and allows surviving spouses to qualify for similar exemptions under specific conditions, such as being at least 55 years old at the time of the deceased spouse's death. Additionally, the bill clarifies the application process for these exemptions, specifies that they will be effective from January 1 of the qualifying tax year, and addresses penalties for delinquent taxes related to these exemptions.

Moreover, the bill amends various sections of the Education Code and Government Code to enhance public meeting notice requirements for school district budgets and tax rates. It mandates that notices must be at least one-quarter page in size and include specific statements about the budget and tax rates, along with comparisons to previous years. The legislation also establishes additional state aid for school districts starting in the 2027-2028 school year, contingent upon voter approval of a constitutional amendment regarding residence homestead exemptions for elderly individuals. Overall, the bill aims to improve transparency in school district budgeting while providing financial relief to qualifying elderly residents.

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 33, Tax Code 26, Education Code 48, Education Code 46, Tax Code 11)