The Texas House giving approval to the long-awaited Property Tax Relief bill this afternoon, following hours of last-minute amendment proposals.
"Coming into session with a $34 billion surplus, we knew this would be the most contentious issue we faced, was how to return money to the taxpayers. We had many competing ideas...but we all came together," House Speaker Dade Phelan said. "Congratulations to you, but more importantly, to the taxpayers of Texas. They are the big winners today."
The package totals $18 billion, with homestead exemptions, and cuts to school property tax rates embedded into the bill.
Democrats and members of the Teachers Union on the floor today held up proceedings for hours, trying to cram in increased teacher pay, which was something previously agreed to be discussed in a separate special session. Those numerous amendments were all shot down.
The three bills comprising the package were passed overwhelmingly. Senate Bill 2, proposing the property tax cuts, passed by a 132 to 4 margin. Senate Bill 3, the franchise tax relief bill, passed 127 to 5, and House Joint Resolution 2, detailing the homestead exemption raises, passed by a 132 to 5 count.
It will formally head to Governor Greg Abbott's desk. Once he signs the bill, the journey is not complete. It will then head on the ballot in this November's elections.
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