By Jackson H.B. No. 1614 75R5993 JD-D A BILL TO BE ENTITLED 1-1 AN ACT 1-2 relating to the appraisal of signs and related property for ad 1-3 valorem tax purposes. 1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-5 SECTION 1. Subchapter B, Chapter 23, Tax Code, is amended by 1-6 adding Section 23.145 to read as follows: 1-7 Sec. 23.145. SIGNS. (a) Except as provided by Subsection 1-8 (c), the appraised value of a sign, including an on-premise sign or 1-9 an off-premise sign, is determined by: 1-10 (1) determining the replacement or reproduction cost 1-11 of the sign; 1-12 (2) calculating the amount of that cost lost to 1-13 depreciation; and 1-14 (3) subtracting the depreciation from the cost. 1-15 (b) The appraised value of a sign may not include an amount 1-16 attributable to an intangible property interest. 1-17 (c) A permanent on-premise sign shall be appraised at its 1-18 contributory value to the premises where the sign is located. The 1-19 appraised value of land on which an off-premise sign is located may 1-20 not include any amount attributable to the value of the sign or to 1-21 the location of the sign on the land. 1-22 (d) In this section, "sign," "off-premise sign," and 1-23 "on-premise sign" have the meanings assigned those terms by Section 1-24 216.002, Local Government Code. 2-1 SECTION 2. This Act takes effect January 1, 1998. The 2-2 change in law made by this Act applies only to an appraisal of a 2-3 sign or other property for ad valorem tax purposes for a tax year 2-4 that begins on or after the effective date of this Act. The 2-5 appraisal of a sign or other property for ad valorem tax purposes 2-6 for a tax year that began before the effective date of this Act is 2-7 governed by the law in effect when the appraisal was made, and the 2-8 former law is continued in effect for that purpose. 2-9 SECTION 3. The importance of this legislation and the 2-10 crowded condition of the calendars in both houses create an 2-11 emergency and an imperative public necessity that the 2-12 constitutional rule requiring bills to be read on three several 2-13 days in each house be suspended, and this rule is hereby suspended.