BILL ANALYSIS

H.B. 2121

By: Paul

Ways & Means

Committee Report (Unamended)

BACKGROUND AND PURPOSE

State law currently requires a rendition statement or property report filed on behalf of a property owner who is rendering tangible personal property to be notarized. This is unnecessarily burdensome. H.B. 2121 seeks to establish an exemption from this requirement for property valued at not more than $500,000.

CRIMINAL JUSTICE IMPACT

It is the committee's opinion that this bill does not expressly create a criminal offense, increase the punishment for an existing criminal offense or category of offenses, or change the eligibility of a person for community supervision, parole, or mandatory supervision.

RULEMAKING AUTHORITY

It is the committee's opinion that this bill does not expressly grant any additional rulemaking authority to a state officer, department, agency, or institution.

ANALYSIS

H.B. 2121 amends the Tax Code to exempt a rendition statement or property report filed on behalf of a property owner who is rendering tangible personal property used for the production of income and whose good faith estimate of the property's market value is not more than $500,000 from the requirement to be sworn to before an officer authorized by law to administer an oath in order to be valid. This exemption applies only to the rendition of property for property tax purposes for a tax year that begins on or after January 1, 2024.

EFFECTIVE DATE

January 1, 2024.