| |
| |
|
|
A JOINT RESOLUTION
|
|
|
proposing a constitutional amendment exempting tangible personal |
|
|
property from ad valorem taxation. |
|
|
BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|
|
SECTION 1. Section 1, Article VIII, Texas Constitution, is |
|
|
amended by amending Subsection (b) and adding Subsection (b-1) to |
|
|
read as follows: |
|
|
(b) All real property [and tangible personal property] in |
|
|
this State, unless exempt as required or permitted by this |
|
|
Constitution, whether owned by natural persons or corporations, |
|
|
other than municipal, shall be taxed in proportion to its value, |
|
|
which shall be ascertained as may be provided by law. All tangible |
|
|
personal property in this State is exempt from ad valorem taxation, |
|
|
except as provided by Subsection (b-1) of this section. |
|
|
(b-1) If before January 1, 2024, an ad valorem tax on |
|
|
tangible personal property is pledged for the payment of a debt, the |
|
|
appropriate tax authorities may continue to levy and collect the |
|
|
tax against that tangible personal property at the same rate as the |
|
|
pledged tax until the debt is discharged, if cessation of the levy |
|
|
and collection of the tax would impair the obligation of the |
|
|
contract by which the debt was created. This subsection applies to |
|
|
tangible personal property that was taxable under the law in effect |
|
|
on January 1, 2023, but that became exempt under Subsection (b) of |
|
|
this section on January 1, 2024, as a result of the amendment of |
|
|
this section adopted by the voters in 2023 to exempt all tangible |
|
|
personal property from ad valorem taxation. |
|
|
SECTION 2. Section 8, Article VIII, Texas Constitution, is |
|
|
amended to read as follows: |
|
|
Sec. 8. All real property of railroad companies shall be |
|
|
assessed, and the taxes collected in the several counties in which |
|
|
said real property is situated, including so much of the roadbed and |
|
|
fixtures as shall be in each county. [The rolling stock may be |
|
|
assessed in gross in the county where the principal office of the |
|
|
company is located, and the county tax paid upon it shall be |
|
|
apportioned as provided by general law in proportion to the |
|
|
distance such road may run through any such county, among the |
|
|
several counties through which the road passes, as a part of their |
|
|
tax assets.] |
|
|
SECTION 3. The following provisions of Article VIII, Texas |
|
|
Constitution, are repealed: |
|
|
(1) Sections 1(d), (e), and (g); |
|
|
(2) Section 1-i; |
|
|
(3) Section 1-j; |
|
|
(4) Section 1-n, as proposed by S.J.R. 47, 77th |
|
|
Legislature, Regular Session, 2001; |
|
|
(5) Section 1-n, as proposed by S.J.R. 6, 77th |
|
|
Legislature, Regular Session, 2001; |
|
|
(6) Section 1-p; |
|
|
(7) Section 19; and |
|
|
(8) Section 19a. |
|
|
SECTION 4. The following temporary provision is added to |
|
|
the Texas Constitution: |
|
|
TEMPORARY PROVISION. The constitutional amendment proposed |
|
|
by the 88th Legislature, Regular Session, 2023, exempting tangible |
|
|
personal property from ad valorem taxation takes effect January 1, |
|
|
2024, and applies only to taxes imposed on or after that date. This |
|
|
temporary provision expires January 1, 2025. |
|
|
SECTION 5. This proposed constitutional amendment shall be |
|
|
submitted to the voters at an election to be held November 7, 2023. |
|
|
The ballot shall be printed to permit voting for or against the |
|
|
proposition: "The constitutional amendment exempting all tangible |
|
|
personal property in this state from ad valorem taxation." |