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Relating to the exemption from ad valorem taxation of real property
leased to and used by certain schools.
SB 2345 would have a positive impact of $192,000 through the biennium ending August 31, 2021, contingent upon passage of a constitutional amendment authorizing the exemption. Additionally, there would be a negative impact of ($16,356,000) for the biennium ending 2023.
SB 2345 would provide an exemption from property taxes to property leased to a charter school that is used solely for that purpose. This is enabling legislation for the constitutional amendment proposed by SJR 74.
While we oppose special tax exemptions in general, we note that there is already an exemption for property that is leased to a traditional public school. This bill would treat property that is leased to an open-enrollment charter school the same as property that is leased to a traditional public school.