Relating to an exemption from ad valorem taxation of the total appraised value of the residence homesteads of certain elderly individuals and their surviving spouses.

HB 301 creates a new property tax exemption for Texas homeowners aged 65 or older who have already received a homestead exemption for at least 10 consecutive years. It also extends this full exemption to surviving spouses aged 55 or older who were living in the same home when their spouse died (and meet other conditions). The bill directly affects elderly homeowners and their surviving spouses by eliminating all property taxes on their primary residence homestead. This policy change modifies Texas Tax Code Section 11.13 to add these specific exemption criteria, effective only if a related constitutional amendment passes or fails as specified.