Texas HB264 dedicates surplus state revenue for ad valorem tax relief.

HB264 amends the Government Code to create a dedicated fund for ad valorem tax relief. The comptroller must deposit half of any surplus state revenue into this fund at the end of each state fiscal biennium. The money in this fund can only be used for ad valorem tax relief. This law takes effect starting with the biennium beginning September 1, 2027.

Texas HB264 dedicates surplus state revenue for ad valorem tax relief.

HB264 amends the Government Code to create a dedicated fund for ad valorem tax relief. The comptroller must deposit half of any surplus state revenue into this fund at the end of each state fiscal biennium. The money in this fund can only be used for ad valorem tax relief. This law takes effect starting with the biennium beginning September 1, 2027.