PROP TX-SR HOMESTEAD EXEMPT

Amends the Property Tax Code. In a Section concerning the Senior Citizens Homestead Exemption, provides that, for taxable year 2006 and thereafter, the maximum reduction, in all counties, must be increased each year by the lesser of (i) 2% or (ii) an amount equal to the annual rate of increase of the Consumer Price Index for All Urban Consumers for all items published by the United States Department of Labor Bureau of Labor Statistics for the previous calendar year. Effective immediately.