Texas HB2743 dedicates surplus state revenue for ad valorem tax relief.

Texas HB2743 mandates the transfer of surplus state revenue to a dedicated account for ad valorem tax relief. The comptroller must transfer the greater of $1.5 billion or 10 percent of the estimated ending certification balance in a state fiscal biennium to this account. The legislature may also appropriate funds to this account. These funds can only be used for ad valorem tax relief. The act applies starting with the state fiscal biennium beginning September 1, 2027, and takes effect September 1, 2025.

Texas HB2743 dedicates surplus state revenue for ad valorem tax relief.

Texas HB2743 mandates the transfer of surplus state revenue to a dedicated account for ad valorem tax relief. The comptroller must transfer the greater of $1.5 billion or 10 percent of the estimated ending certification balance in a state fiscal biennium to this account. The legislature may also appropriate funds to this account. These funds can only be used for ad valorem tax relief. The act applies starting with the state fiscal biennium beginning September 1, 2027, and takes effect September 1, 2025.