By:  Haggerty                                          H.B. No. 770
       73R3216 SMH-F
                                 A BILL TO BE ENTITLED
    1-1                                AN ACT
    1-2  relating to the additional tax imposed on a change of use of
    1-3  agricultural land.
    1-4        BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
    1-5        SECTION 1.  Section 23.55(a), Tax Code, is amended to read as
    1-6  follows:
    1-7        (a)  If the use of land that has been appraised as provided
    1-8  by this subchapter changes, an additional tax is imposed on the
    1-9  land equal to the difference between the tax <taxes> imposed on the
   1-10  land for <each of> the year <five years> preceding the year in
   1-11  which the change of use occurs <that the land was appraised as
   1-12  provided by this subchapter> and the tax that would have been
   1-13  imposed had the land been taxed on the basis of market value in
   1-14  that year <each of those years>, plus interest at an annual rate of
   1-15  seven percent calculated from the date <dates> on which the
   1-16  difference <differences> would have become due.
   1-17        SECTION 2.  This Act takes effect January 1, 1994.
   1-18        SECTION 3.  The importance of this legislation and the
   1-19  crowded condition of the calendars in both houses create an
   1-20  emergency and an imperative public necessity that the
   1-21  constitutional rule requiring bills to be read on three several
   1-22  days in each house be suspended, and this rule is hereby suspended.