Bill > HB29

This bill aims to eliminate school district maintenance and operations ad valorem taxes (property taxes) starting in 2026, while allowing school districts to impose an "enrichment tax" of up to $0.17 per $100 of taxable property value to provide additional funding for educational opportunities. The bill also creates a joint interim committee to study the feasibility of using consumption taxes (such as sales tax) to replace the lost revenue from the eliminated property taxes and maintain an efficient public school system in Texas. The committee is required to provide a report and propose legislation by November 2024.