HB5096 - 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.

  89R16247 CJC-D     By: Perez of El Paso H.B. No. 5096       A BILL TO BE ENTITLED   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. If that amendment is not approved by the voters, this   Act has no effect.