Proposing a constitutional amendment to create a property tax reduction fund and dedicate surplus state revenue to it.

The bill proposes a constitutional amendment to establish the property tax reduction fund, a special fund outside the general revenue fund in the state treasury. The comptroller of public accounts will administer the fund, which will consist of money transferred or deposited to the credit of the fund and sales tax revenue. The fund will be used to reduce school district maintenance and operations ad valorem taxes. If the fund's amount exceeds what is needed for tax reduction, the legislature may appropriate the surplus to reduce any other state tax.

Proposing a constitutional amendment to create a property tax reduction fund and dedicate surplus state revenue to it.

The bill proposes a constitutional amendment to establish the property tax reduction fund, a special fund outside the general revenue fund in the state treasury. The comptroller of public accounts will administer the fund, which will consist of money transferred or deposited to the credit of the fund and sales tax revenue. The fund will be used to reduce school district maintenance and operations ad valorem taxes. If the fund's amount exceeds what is needed for tax reduction, the legislature may appropriate the surplus to reduce any other state tax.