By:  Craddick                                          H.B. No. 203
       73R1826 CAS-D
                                 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.  Section 24.01, Tax Code, is amended to read as
    1-6  follows:
    1-7        Sec. 24.01.  APPRAISAL BY COMPTROLLER.  The comptroller shall
    1-8  appraise for taxation the intangible value of the transportation
    1-9  operation in this state of the following businesses:
   1-10              (1)  <railroads;>
   1-11              <(2)>  toll roads, toll bridges, and ferries; and
   1-12              (2) <(3)>  oil pipelines and common carrier pipelines
   1-13  engaged in the transportation of oil.
   1-14        SECTION 2.  Section 24.02(a), Tax Code, is amended to read as
   1-15  follows:
   1-16        (a)  In addition to any reports required by Chapter 22 <or
   1-17  Section 24.32 of this code>, a person who on January 1 owns or
   1-18  manages and controls as a fiduciary a transportation business
   1-19  described by Section 24.01 of this code shall file a property
   1-20  information report with the comptroller annually.
   1-21        SECTION 3.  Section 24.32(a), Tax Code, is amended to read as
   1-22  follows:
   1-23        (a)  In addition to any reports required by Chapter 22 <or
   1-24  Section 24.02 of this code>, a person who on January 1 owns or
    2-1  manages and controls as a fiduciary any rolling stock used in the
    2-2  operation of a railroad shall file a property information report
    2-3  listing the rolling stock with the chief appraiser for the county
    2-4  in which the owner maintains his principal place of business in
    2-5  this state.
    2-6        SECTION 4.  The change in law made by this Act does not apply
    2-7  to, and the former law is continued in effect for purposes of:
    2-8              (1)  the appraisal or allocation of property omitted
    2-9  from taxation in the 1992 or 1993 tax year or the taxation of that
   2-10  property for either year; or
   2-11              (2)  the collection and enforcement of ad valorem taxes
   2-12  imposed before January 1, 1994.
   2-13        SECTION 5.  This Act takes effect January 1, 1994.
   2-14        SECTION 6.  The importance of this legislation and the
   2-15  crowded condition of the calendars in both houses create an
   2-16  emergency   and   an   imperative   public   necessity   that   the
   2-17  constitutional rule requiring bills to be read on three several
   2-18  days in each house be suspended, and this rule is hereby suspended.