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.