By: Ellis S.B. No. 785
A BILL TO BE ENTITLED
AN ACT
1-1 relating to the additional tax imposed on open space or
1-2 agricultural use land when a change in use of the land occurs.
1-3 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-4 SECTION 1. Subsection (a), Section 23.55, Tax Code, is
1-5 amended to read as follows:
1-6 (a) If the use of land that has been appraised as provided
1-7 by this subchapter changes, an additional tax is imposed on the
1-8 land equal to the difference between the taxes imposed on the land
1-9 for each of the 10 <five> years preceding the year in which the
1-10 change of use occurs that the land was appraised as provided by
1-11 this subchapter and the tax that would have been imposed had the
1-12 land been taxed on the basis of market value in each of those
1-13 years, plus interest at an annual rate of seven percent calculated
1-14 from the dates on which the differences would have become due.
1-15 SECTION 2. The importance of this legislation and the
1-16 crowded condition of the calendars in both houses create an
1-17 emergency and an imperative public necessity that the
1-18 constitutional rule requiring bills to be read on three several
1-19 days in each house be suspended, and this rule is hereby suspended.