TITLE: Relating to the eligibility for an exemption from ad valorem taxation of the residence homestead of certain persons with a life estate in the homestead property.

SUMMARY: Relating to the eligibility for an exemption from ad valorem taxation of the residence homestead of certain persons with a life estate in the homestead property.

FULL TEXT:
AN ACT relating to the eligibility for an exemption from ad valorem taxation of the residence homestead of certain persons with a life estate in the homestead property. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: SECTION 1. Section 11.13(j)(1), Tax Code, is amended to read as follows: (1) "Residence homestead" means a structure (including a mobile home) or a separately secured and occupied portion of a structure (together with the land, not to exceed 20 acres, and improvements used in the residential occupancy of the structure, if the structure and the land and improvements have identical ownership) that: (A) is owned by one or more individuals, either directly or through a beneficial interest in a qualifying trust; (B) is designed or adapted for human residence; (C) is used as a residence; and (D) is occupied as the individual's principal residence by an owner,by an owner's surviving spouse who has a life estate in the property, or, for property owned through a beneficial interest in a qualifying trust, by a trustor or beneficiary of the trust who qualifies for the exemption. SECTION 2. This Act applies only to an ad valorem tax year that begins on or after the effective date of this Act. SECTION 3. This Act takes effect January 1, 2016.