Texas SB2665 allows taxing units to condition tax exemptions on voter approval of tax rates or bond issuances.

The bill amends the Texas Tax Code to allow the governing body of a taxing unit to condition the adoption or increase of a local option residence homestead exemption on voter approval of a tax rate or bond issuance. Specifically, the adoption or increase in the exemption can be contingent on the outcome of an election to approve a tax rate under Sections 26.07 or 26.08 or the issuance of bonds for which an election is required under Sections 45.003 of the Education Code or Chapter 1251 of the Government Code.

Texas SB2665 allows taxing units to condition tax exemptions on voter approval of tax rates or bond issuances.

The bill amends the Texas Tax Code to allow the governing body of a taxing unit to condition the adoption or increase of a local option residence homestead exemption on voter approval of a tax rate or bond issuance. Specifically, the adoption or increase in the exemption can be contingent on the outcome of an election to approve a tax rate under Sections 26.07 or 26.08 or the issuance of bonds for which an election is required under Sections 45.003 of the Education Code or Chapter 1251 of the Government Code.