PROP TX-SENIOR CITIZENS CAP

Amends the Property Tax Code. Provides that, for real property that is improved with a permanent structure that is occupied as a residence by a person who (i) is senior citizen at any point during the taxable year, (ii) has occupied the property as his or her principal residence or domicile for at least 20 consecutive years, (iii) is liable for paying real property taxes on the property, and (iv) is an owner of record of the property or has a legal or equitable interest in the property, the total tax liability for the property shall not exceed 10% of the household income for members of the senior citizen's household. Effective immediately.