If the Legislature approves SB 4, Texas voters would have to approve the amendment to the state Constitution to make the tax cut permanent.

Increasing the homestead exemption would cost the state roughly $3 billion over two years and add to a growing tab of property tax cuts.

The Texas Senate gave unanimous approval Thursday to proposals to cut property taxes by raising the Texas homestead exemption to $140,000, sending the measures to the House. Senate Bill 4 and Senate Joint Resolution 2,