Texas HB301 modifies voter approval requirements for ad valorem tax rates exceeding a taxing unit's voter-approval tax rate.

Texas HB301 amends the Special District Local Laws Code and the Tax Code to change the voter approval requirements for ad valorem tax rates that exceed a taxing unit's voter-approval tax rate. The bill specifies that if a proposed tax rate exceeds the no-new-revenue tax rate but does not exceed the voter-approval tax rate, a notice must be provided detailing the proposed tax rate, the no-new-revenue tax rate, and the voter-approval tax rate. If the proposed tax rate exceeds both the no-new-revenue tax rate and the voter-approval tax rate, an election must be held for voter approval.

Texas HB301 modifies voter approval requirements for ad valorem tax rates exceeding a taxing unit's voter-approval tax rate.

Texas HB301 amends the Special District Local Laws Code and the Tax Code to change the voter approval requirements for ad valorem tax rates that exceed a taxing unit's voter-approval tax rate. The bill specifies that if a proposed tax rate exceeds the no-new-revenue tax rate but does not exceed the voter-approval tax rate, a notice must be provided detailing the proposed tax rate, the no-new-revenue tax rate, and the voter-approval tax rate. If the proposed tax rate exceeds both the no-new-revenue tax rate and the voter-approval tax rate, an election must be held for voter approval.