PROP TX-REAL ESTATE TRANSFER

Amends the Property Tax Code. Provides that, on and after January 1, 2021, deeds representing real estate transfers of residential property from a parent to a child are exempt from the real estate transfer tax if the child's household income for the taxable year in which the transfer occurs is less than $50,000 and the property has been the child's principal place of residence for at least 10 consecutive years immediately prior to the date of the transfer. Effective immediately.