HB 3935 provides a 35% exemption from ad valorem taxation for land located in a priority groundwater management area that is not irrigated. The bill amends the Tax Code to incentivize conservation efforts in areas where groundwater resources are at risk of depletion. To qualify, the land must be at least half an acre in size (excluding structures) and cannot be appraised under existing agricultural or open-space land appraisal provisions. The bill is contingent on voter approval of a constitutional amendment authorizing the exemption​.