TITLE: Relating to a temporary local option exemption from ad valorem taxation by a taxing unit of the total appraised value of surplus real property a person purchases from the El Paso Independent School District.

SUMMARY: Relating to a temporary local option exemption from ad valorem taxation by a taxing unit of the total appraised value of surplus real property a person purchases from the El Paso Independent School District.

FULL TEXT:
AN ACT relating to a temporary local option exemption from ad valorem taxation by a taxing unit of the total appraised value of surplus real property a person purchases from the El Paso Independent School District. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: SECTION 1. Subchapter B, Chapter 11, Tax Code, is amended by adding Section 11.39 to read as follows: Sec. 11.39. SURPLUS REAL PROPERTY PURCHASED FROM EL PASO INDEPENDENT SCHOOL DISTRICT. The governing body of a taxing unit by official action of the governing body adopted in the manner required by law for official actions may exempt from taxation for a period of 10 years the total appraised value of surplus real property a person purchases from the El Paso Independent School District. SECTION 2. This Act applies only to ad valorem taxes imposed for a tax year beginning on or after the effective date of this Act. SECTION 3. This Act takes effect January 1, 2026, but only if the constitutional amendment proposed by the 89th Legislature, Regular Session, 2025, to authorize the legislature to provide for a temporary local option exemption from ad valorem taxation by a political subdivision of the total market value of surplus real property a person purchases from a school district is approved by the voters.