HB2743 - Relating to the dedication of certain surplus state revenue for ad valorem tax relief.

      By: Kerwin H.B. No. 2743       A BILL TO BE ENTITLED   AN ACT   relating to the dedication of certain surplus state revenue for ad   valorem tax relief.          BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:          SECTION 1.  Subchapter G, Chapter 403, Government Code, is   amended by adding Section 403.108 to read as follows:           Sec.   403.108.     DEDICATION OF SURPLUS GENERAL   REVENUE-RELATED FUNDS TO AD VALOREM TAX RELIEF. (a) From the   estimated ending certification balance in a state fiscal biennium,   less transfers, the comptroller shall, not later than the 90th day   of each biennium, transfer to a dedicated account in the general   revenue fund the greater of:                 (1)  $1.5 billion; or                 (2)     an amount equal to 10 percent of the estimated   ending certification balance in a state fiscal biennium, less   transfers.           (b)     In addition to funds transferred to the account   described by subsection (a), the legislature may appropriate funds   to the account described by subsection (a) out of revenue available   for general-purpose spending through the upcoming biennium.           (c)     Money deposited to the account described in subsection   (a) shall only be appropriated by the legislature to provide ad   valorem tax relief.          SECTION 2.  This Act applies beginning with the state fiscal   biennium beginning on September 1, 2027.          SECTION 3.  This Act takes effect September 1, 2025.