| |
| |
|
|
A JOINT RESOLUTION
|
|
|
proposing a constitutional amendment authorizing the legislature |
|
|
to exempt from ad valorem taxation a person's inventory. |
|
|
BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|
|
SECTION 1. Section 1, Article VIII, Texas Constitution, is |
|
|
amended by amending Subsection (d) and adding Subsection (g-1) to |
|
|
read as follows: |
|
|
(d) The Legislature by general law shall exempt from ad |
|
|
valorem taxation household goods not held or used for the |
|
|
production of income and personal effects not held or used for the |
|
|
production of income. The Legislature by general law may exempt |
|
|
from ad valorem taxation: |
|
|
(1) all or part of the personal property homestead of a |
|
|
family or single adult, "personal property homestead" meaning that |
|
|
personal property exempt by law from forced sale for debt; |
|
|
(2) subject to Subsections (e), [and] (g), and (g-1) |
|
|
of this section, all other tangible personal property, except |
|
|
structures which are substantially affixed to real estate and are |
|
|
used or occupied as residential dwellings and except property held |
|
|
or used for the production of income; |
|
|
(3) subject to Subsection (e) of this section, a |
|
|
leased motor vehicle that is not held primarily for the production |
|
|
of income by the lessee and that otherwise qualifies under general |
|
|
law for exemption; and |
|
|
(4) one motor vehicle, as defined by general law, |
|
|
owned by an individual that is used in the course of the |
|
|
individual's occupation or profession and is also used for personal |
|
|
activities of the owner that do not involve the production of |
|
|
income. |
|
|
(g-1) The Legislature by general law may exempt from ad |
|
|
valorem taxation a person's inventory, as defined by general law. |
|
|
SECTION 2. 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 authorizing the |
|
|
legislature to exempt from ad valorem taxation a person's |
|
|
inventory." |