PROP TX-MIDDLE CLASS CREDIT

Amends the Property Tax Code. Creates a middle-class tax credit limited to a reduction in the equalized assessed value of homestead property owned by a middle-class taxpayer of 5% of the equalized assessed value of the property for the current assessment year. Provides that the maximum exemption is limited to $5,000. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.