Team Bettencourt has shared a series of updates on recent legislative developments in Texas through their social media platform. The posts highlight significant tax-related bills that have been enacted and provide insights into their implications for Texas residents.
On June 16, Team Bettencourt announced that Governor Greg Abbott had signed several pieces of legislation into law, including SB 4, SB 23, and HB 9 by Representative Morgan Meyer. These laws are part of a substantial $10 billion property tax relief package passed during the session. According to Team Bettencourt, the measures will result in savings of “$484/year” for “5.7M homeowners,” with the homestead exemption being raised from “$100K” to “$140K.” More details can be found here.
On June 17, another post from Team Bettencourt referenced a report by the Rice Kinder Institute at Rice University. The report utilized an average home value of “$335k” in Houston, which aligns with calculations made by Team Bettencourt’s office regarding the savings from increased ISD Homestead Exemptions. These changes reportedly help save homeowners “$484/yr” and seniors “a whopping $907/yr.” For further information, refer to this link.
In a subsequent update on June 18, Team Bettencourt highlighted another legislative success involving Senate Bill 2206. Sponsored alongside House member Charlie Geren, this bill increases the R&D franchise tax credit from “5% to 8.722%” and even higher to “10.903%” for partnerships with public or private Texas universities. More details can be accessed here.
This recent legislative activity forms part of broader efforts within the state legislature aimed at providing economic relief and fostering research and development collaborations across Texas.
