Texas HJR202 proposes a constitutional amendment to exempt prepaid ad valorem taxes on real property and establish a trust fund for annual.

Texas HJR202 proposes a constitutional amendment to exempt from ad valorem taxation the total market value of real property for which the property owner prepays an estimate of the property's future ad valorem tax liability. The comptroller of public accounts will administer the prepaid property tax trust fund, which consists of these prepayments. The comptroller will make annual disbursements from the fund to eligible political subdivisions, which are those affected by the exemption. The comptroller may proportionally reduce the distributions to prevent the fund from becoming insolvent.

Texas HJR202 proposes a constitutional amendment to exempt prepaid ad valorem taxes on real property and establish a trust fund for annual.

Texas HJR202 proposes a constitutional amendment to exempt from ad valorem taxation the total market value of real property for which the property owner prepays an estimate of the property's future ad valorem tax liability. The comptroller of public accounts will administer the prepaid property tax trust fund, which consists of these prepayments. The comptroller will make annual disbursements from the fund to eligible political subdivisions, which are those affected by the exemption. The comptroller may proportionally reduce the distributions to prevent the fund from becoming insolvent.