H.B. No. 250 proposes amendments to the Texas Tax Code regarding ad valorem tax exemptions for disabled veterans and their surviving spouses and children. The bill establishes specific percentages of assessed property value that disabled veterans can exempt based on their disability ratings, with the following tiers: 20% for a rating of 10-29%, 40% for 30-49%, 60% for 50-69%, 80% for 70-99%, and 100% for a rating of 100%. Additionally, it provides an 80% exemption for veterans under certain conditions, such as being 65 years or older or being totally blind or having lost the use of limbs. The bill also clarifies that the surviving spouse of a deceased veteran is entitled to an exemption equal to the dollar amount of the veteran's exemption at the time of death, as long as they remain unmarried.

Furthermore, the bill allows for exemptions for the veteran's children under 18 years of age, dividing the veteran's exemption amount among eligible children. It also includes provisions for individuals acquiring property after January 1 of a tax year to receive exemptions for the applicable portion of that year. The act is set to take effect on January 1, 2026, contingent upon the approval of a related constitutional amendment by voters.

Statutes affected:
Introduced: Tax Code 11.22, Tax Code 11.42 (Tax Code 11)