(a) In this section, “board” means the Legislative Budget Board.
(b) The board shall conduct a study that assesses the long-term effects on the state’s funding and revenue, including funding for public education, of ad valorem tax exemptions and sales and use tax exemptions for multifamily housing developments under Sections 303.042(c) and 303.0421(f).

(c) Not later than December 10, 2024, the board shall submit to the governor, the lieutenant governor, and the speaker of the house of representatives a report on the results of the study. The report must include an estimate of:
(1) the funding or revenue that the state has lost as a result of the exemptions; and
(2) the potential increase in funding or revenue that would result from the repeal of the exemptions.
(d) The board may delegate any authority granted to the board under this section that the board determines is necessary to conduct the study under this section.
(e) This section expires January 1, 2025.

For expiration of this section, see Subsection (e).
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