Bill Status of SB2255 100th General Assembly
Short Description: PROP TX-NEW CONSTRUCTION
Sen. Win Stoller
| 4/16/2021||Senate||Rule 3-9(a) / Re-referred to Assignments|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Property Tax Code. Provides that homestead property that is newly constructed is entitled to a homestead exemption limited to $75,000 per year in fair cash value, if that property is owned and used exclusively for a residential purpose, regardless of whether or not that property has been rebuilt following a catastrophic event. Provides that the chief county assessment officer shall award not more than $5,000,000 in exemptions under those provisions in any taxable year for property that has not been improved or newly constructed following a catastrophic event. Effective immediately.
|Date||Chamber|| Action|| 2/26/2021||Senate||Filed with Secretary by Sen. Win Stoller|| 2/26/2021||Senate||First Reading|| 2/26/2021||Senate||Referred to Assignments|| 3/23/2021||Senate||Assigned to Revenue|| 4/16/2021||Senate||Rule 3-9(a) / Re-referred to Assignments|