By Hartnett H.J.R. No. 31
74R965 SMH-D
A JOINT RESOLUTION
1-1 proposing a constitutional amendment authorizing the exemption from
1-2 ad valorem taxation of income-producing personal property having a
1-3 value insufficient to recover the tax administrative costs.
1-4 BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-5 SECTION 1. Article VIII, Section 1, of the Texas
1-6 Constitution is amended by amending Subsection (d) and adding
1-7 Subsection (g) to read as follows:
1-8 (d) The Legislature by general law shall exempt from ad
1-9 valorem taxation household goods not held or used for the
1-10 production of income and personal effects not held or used for the
1-11 production of income. The Legislature by general law may exempt
1-12 from ad valorem taxation:
1-13 (1) all or part of the personal property homestead of
1-14 a family or single adult, "personal property homestead" meaning
1-15 that personal property exempt by law from forced sale for debt; and
1-16 (2) subject to Subsections <Subsection> (e) and (g)
1-17 of this section, all other tangible personal property, except
1-18 structures which are personal property and are used or occupied as
1-19 residential dwellings and except property held or used for the
1-20 production of income.
1-21 (g) The Legislature may exempt from ad valorem taxation
1-22 tangible personal property that is held or used for the production
1-23 of income and has a taxable value of less than the minimum amount
1-24 sufficient to recover the costs of the administration of the taxes
2-1 on the property, as determined by or under the general law granting
2-2 the exemption.
2-3 SECTION 2. This proposed constitutional amendment shall be
2-4 submitted to the voters at an election to be held November 5, 1996.
2-5 The ballot shall be printed to provide for voting for or against
2-6 the proposition: "The constitutional amendment authorizing the
2-7 legislature to exempt from ad valorem taxation personal property
2-8 that has a value insufficient to recover the administrative costs
2-9 of collecting the taxes."