Disaster recovery funding, state income tax prohibition among props that pass
Sixty-five percent of voters supported Proposition 2 that enables the Texas Water Development Board (TWDB) to issue up to $200 million in additional general obligation bonds to provide financial assistance for the development of water and wastewater projects in economically distressed areas.
Tax exemptions for disaster areas earned 85 percent of the vote for Proposition 3. The new law allows the state to exempt a portion of the appraised value of properties damaged by disasters from property taxes.
The prohibition of a state income tax was reinforced by 76 percent of voters. Proposition 4’s passage now requires a two-thirds vote of the Texas House and Senate instead of a simple majority before the measure could go to voters.
Proposition 5 passed with 88 percent of the vote to dedicate sales tax revenues on sporting goods to the Texas Parks and Wildlife Department and the Texas Historical Commission to acquire, manage, and improve state and local parks and historic sites.
Passage of Proposition 8 by 78 percent of voters automatically moved $793 million from the state’s rainy day fund to a new Flood Infrastructure Fund. The state-run bank account will be used to award grants or issue low-cost loans to local governments for drainage, flood mitigation, or flood control projects.
Proposition 9, which passed with 52 percent of the vote, authorizes the Legislature to exempt depository-held precious metals from ad valorem taxes.