LEGISLATIVE BUDGET BOARD
                          Austin, Texas

                           FISCAL NOTE
                       74th Regular Session

                          April 19, 1995



 TO:     Honorable John T. Montford, Chair      IN RE:  House Joint
         Committee on Finance                   Resolution
         Senate                                                No. 31, as
         Austin, Texas                          engrossed
                                                        By:   Hartnett









FROM: John Keel, Director

In response to your request for a Fiscal Note on House Joint
Resolution No. 31 (proposing a constitutional amendment
authorizing the exemption from ad valorem taxation of income-
producing personal property and mineral interests having a value
insufficient to recover the tax administrative costs.) this
office has determined the following:

The resolution proposes a constitutional amendment which, if
adopted, would exempt from ad valorem taxation income producing
tangible personal property and mineral interest  with an
aggregate value of less than $500.

The fiscal implications of the resolution's provisions on the
State and units of local government would depend on enabling
legislation, such as House Bill 366 or similar legislation.

The cost to the state for publication of the resolution is
$90,000.
    

        





Source:   LBB Staff: JK, RS, DF