Bill Text: TX HJR48 | 2017-2018 | 85th Legislature | Introduced

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Bill Title: Proposing a constitutional amendment authorizing the legislature to phase out by 2027 the ad valorem taxation by a school district of the tangible personal property a person owns that consists of inventory.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2017-02-20 - Referred to Ways & Means [HJR48 Detail]

Download: Texas-2017-HJR48-Introduced.html

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85R3220 TJB-D
By: Workman H.J.R. No. 48

A JOINT RESOLUTION
proposing a constitutional amendment authorizing the legislature
to phase out by 2027 the ad valorem taxation by a school district of
the tangible personal property a person owns that consists of
inventory.
BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Article VIII, Texas Constitution, is amended by
adding Section 1-q to read as follows:
Sec. 1-q. (a) The legislature by general law may exempt from
ad valorem taxation by a school district the market value of the
tangible personal property a person owns that consists of
inventory.
(b) The legislature by general law may provide additional
eligibility requirements for the exemption authorized by this
section.
(c) The legislature by general law may prescribe procedures
for the administration of this section.
(d) Subsection (a) of this section applies to the ad valorem
taxation by a school district of tangible personal property that
consists of inventory only for the 2027 and subsequent tax years.
The ad valorem taxation by a school district of tangible personal
property that consists of inventory for the 2018, 2019, 2020, 2021,
2022, 2023, 2024, 2025, and 2026 tax years is governed by this
subsection. The legislature by general law may exempt from ad
valorem taxation by a school district a percentage of the market
value of the tangible personal property a person owns that consists
of inventory. For the 2018 tax year, the amount of the exemption may
not exceed 10 percent of the market value of the inventory. For the
2019 tax year, the amount of the exemption may not exceed 20 percent
of the market value of the inventory. For the 2020 tax year, the
amount of the exemption may not exceed 30 percent of the market
value of the inventory. For the 2021 tax year, the amount of the
exemption may not exceed 40 percent of the market value of the
inventory. For the 2022 tax year, the amount of the exemption may
not exceed 50 percent of the market value of the inventory. For the
2023 tax year, the amount of the exemption may not exceed 60 percent
of the market value of the inventory. For the 2024 tax year, the
amount of the exemption may not exceed 70 percent of the market
value of the inventory. For the 2025 tax year, the amount of the
exemption may not exceed 80 percent of the market value of the
inventory. For the 2026 tax year, the amount of the exemption may
not exceed 90 percent of the market value of the inventory. This
subsection expires January 1, 2027.
SECTION 2. This proposed constitutional amendment shall be
submitted to the voters at an election to be held November 7, 2017.
The ballot shall be printed to permit voting for or against the
proposition: "The constitutional amendment authorizing the
legislature to phase out by 2027 the ad valorem taxation by a school
district of the tangible personal property a person owns that
consists of inventory."