1-1  By:  Hartnett (Senate Sponsor - Brown)                H.J.R. No. 31
    1-2        (In the Senate - Received from the House April 18, 1995;
    1-3  April 19, 1995, read first time and referred to Committee on
    1-4  Finance; May 16, 1995, reported favorably by the following vote:
    1-5  Yeas 8, Nays 0; May 16, 1995, sent to printer.)
    1-6                        HOUSE JOINT RESOLUTION
    1-7  proposing a constitutional amendment authorizing the exemption from
    1-8  ad valorem taxation of income-producing personal property and
    1-9  mineral interests having a value insufficient to recover the tax
   1-10  administrative costs.
   1-11        BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
   1-12        SECTION 1.  Section 1, Article VIII, Texas Constitution, is
   1-13  amended by amending Subsection (d) and adding Subsections (g) and
   1-14  (h) to read as follows:
   1-15        (d)  The Legislature by general law shall exempt from ad
   1-16  valorem taxation household goods not held or used for the
   1-17  production of income and personal effects not held or used for the
   1-18  production of income.  The Legislature by general law may exempt
   1-19  from ad valorem taxation:
   1-20              (1)  all or part of the personal property homestead of
   1-21  a family or single adult, "personal property homestead" meaning
   1-22  that personal property exempt by law from forced sale for debt; and
   1-23              (2)  subject to Subsections <Subsection> (e) and (g)
   1-24  of this section, all other tangible personal property, except
   1-25  structures which are personal property and are used or occupied as
   1-26  residential dwellings and except property held or used for the
   1-27  production of income.
   1-28        (g)  The Legislature may exempt from ad valorem taxation
   1-29  tangible personal property that is held or used for the production
   1-30  of income and has a taxable value of less than the minimum amount
   1-31  sufficient to recover the costs of the administration of the taxes
   1-32  on the property, as determined by or under the general law granting
   1-33  the exemption.
   1-34        (h)  The Legislature may exempt from ad valorem taxation a
   1-35  mineral interest that has a taxable value of less than the minimum
   1-36  amount sufficient to recover the costs of the administration of the
   1-37  taxes on the interest, as determined by or under the general law
   1-38  granting the exemption.
   1-39        SECTION 2.  This proposed constitutional amendment shall be
   1-40  submitted to the voters at an election to be held November 7, 1995.
   1-41  The ballot shall be printed to permit voting for or against the
   1-42  proposition:  "The constitutional amendment authorizing the
   1-43  legislature to exempt from ad valorem taxation personal property
   1-44  and mineral interests having a value insufficient to recover the
   1-45  administrative costs of collecting the taxes."
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