Thursday morning, around 1am, the Texas House Ways and Means Committee passed an amended version of House Bill 2 by an 8-3 margin.

HB 2 is property tax reform legislation authored by State Rep. Dustin Burrows of Lubbock.

According to the Texas Tribune, the amended HB 2 keeps the 2.5% rollback provision for property tax increases, but added exemptions to the provision for community college districts, emergency services districts and hospital districts. The exempted entities rollback provision would remain at the current 8%.

Cities and counties will also be able to “bank” unused revenue to create a rolling five-year average to stay below to the 2.5% threshold. But those same cities and counties would have their certificates of obligation, and additional municipal debt, counted toward the 2.5% threshold.

The Quorum Report had noted early Thursday morning that HB 2 could be changed again as soon as Thursday morning when it is expected to go up for debate on the House floor. However, a note posted on the Texas House website after 4:30am states the House is now adjourned until 10am on Monday, April 1.

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