Proposing a constitutional amendment to authorize the legislature to provide for an exemption from ad valorem taxation by a school district of a portion of the market value of certain leased residential real properties, to establish and prescribe the permissible uses of the property tax relief to rental households fund, and to include payments from the property tax relief to rental households fund in the exception of certain appropriations to pay for ad valorem tax relief from the constitutional limitation on the rate of growth of appropriations.

HJR 200 proposes a constitutional amendment to allow Texas school districts to exempt 50% of the market value of qualifying leased residential properties from property taxes. This would apply to multifamily rental properties (at least 15 years old) used as primary residences, excluding rehabilitation-related value increases. The bill also establishes a new "property tax relief to rental households fund" that would receive $3.8 billion by 2026 to make direct payments to eligible rental households. The relief would target households renting qualifying properties, with eligibility and payment rules set by future legislation. This is a constitutional amendment, not a regular bill, and would require voter approval to take effect.