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proposing a constitutional amendment to authorize the legislature |
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to exempt from ad valorem taxation equipment or inventory held by a |
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manufacturer of medical or biomedical products to protect the Texas |
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healthcare network and strengthen our medical supply chain. |
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BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Article VIII, Texas Constitution, is amended by |
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adding Section 1-x to read as follows: |
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Sec. 1-x. The legislature by general law may exempt from ad |
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valorem taxation the tangible personal property held by a |
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manufacturer of medical or biomedical products as a finished good |
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or used in the manufacturing or processing of medical or biomedical |
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products. |
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SECTION 2. This proposed constitutional amendment shall be |
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submitted to the voters at an election to be held November 7, 2023. |
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The ballot shall be printed to permit voting for or against the |
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proposition: "The constitutional amendment to authorize the |
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legislature to exempt from ad valorem taxation equipment or |
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inventory held by a manufacturer of medical or biomedical products |
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to protect the Texas healthcare network and strengthen our medical |
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supply chain." |