By Craddick                                            H.B. No. 203
                                 A BILL TO BE ENTITLED
    1-1                                AN ACT
    1-2  relating to repealing the tax imposed on the intangible value of
    1-3  the transportation operation of certain businesses.
    1-4        BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
    1-5        SECTION 1.  Subchapter A, Chapter 24, Tax Code, is repealed.
    1-6        SECTION 2.  Section 24.32(a), Tax Code, is amended to read as
    1-7  follows:
    1-8        (a)  In addition to any reports required by Chapter 22 <or
    1-9  Section 24.02 of this code>, a person who on January 1 owns or
   1-10  manages and controls as a fiduciary any rolling stock used in the
   1-11  operation of a railroad shall file a property information report
   1-12  listing the rolling stock with the chief appraiser for the county
   1-13  in which the owner maintains his principal place of business in
   1-14  this state.
   1-15        SECTION 3.  The change in law made by this Act does not apply
   1-16  to, and the former law is continued in effect for purposes of:
   1-17              (1)  the appraisal or allocation of property omitted
   1-18  from taxation in the 1992 or 1993 tax year or the taxation of that
   1-19  property for either year; or
   1-20              (2)  the collection and enforcement of ad valorem taxes
   1-21  imposed before January 1, 1994.
   1-22        SECTION 4.  This Act takes effect January 1, 1994.
   1-23        SECTION 5.  The importance of this legislation and the
   1-24  crowded condition of the calendars in both houses create an
    2-1  emergency   and   an   imperative   public   necessity   that   the
    2-2  constitutional rule requiring bills to be read on three several
    2-3  days in each house be suspended, and this rule is hereby suspended.