Bill > SB403

This bill establishes a new mechanism for dedicating state money to ad valorem (property) tax relief by requiring the state comptroller to annually determine the amount of federal reimbursement received for border security costs and deposit an equivalent amount of general revenue into a special account within the general revenue fund. Specifically, within 90 days of each state fiscal year, the comptroller must calculate the federal reimbursement for border security expenses from the previous fiscal year and then transfer a matching amount of general revenue to a dedicated account. The legislation stipulates that the money in this account can only be appropriated by the legislature for the purpose of providing property tax relief. While the bill will take effect on September 1, 2025, its provisions will not be applied until the state fiscal year beginning September 1, 2027, giving state agencies time to prepare for the new accounting and fund allocation process.

Budget and Finance

https://capitol.texas.gov/BillLookup/History.aspx?LegSess=89R&Bill=SB403