1-1 By: Telford, et al. (Senate Sponsor - Ratliff) H.B. No. 1723 1-2 (In the Senate - Received from the House May 5, 1997; 1-3 May 6, 1997, read first time and referred to Committee on State 1-4 Affairs; May 16, 1997, reported favorably by the following vote: 1-5 Yeas 13, Nays 0; May 16, 1997, sent to printer.) 1-6 A BILL TO BE ENTITLED 1-7 AN ACT 1-8 relating to appraisal for property tax purposes of open-space land 1-9 that is converted to production of timber. 1-10 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-11 SECTION 1. Subchapter D, Chapter 23, Tax Code, is amended by 1-12 adding Section 23.59 to read as follows: 1-13 Sec. 23.59. APPRAISAL OF OPEN-SPACE LAND THAT IS CONVERTED 1-14 TO TIMBER PRODUCTION. (a) If land that has been appraised under 1-15 this subchapter for at least five preceding years is converted to 1-16 production of timber after September 1, 1997, the owner may elect 1-17 to have the land continue to be appraised under this subchapter for 1-18 15 years after the date of the conversion, so long as the land 1-19 qualifies for appraisal as timber land under Subchapter E. In that 1-20 event, the land is deemed to be the same category of land under 1-21 this subchapter as it was immediately before conversion to timber 1-22 production. 1-23 (b) The election must be made by a new application filed as 1-24 provided by Section 23.54 and remains in effect for 15 years or 1-25 until a change in use of the land occurs. 1-26 (c) This section applies to the appraisal of land converted 1-27 to timber production only until the end of the tax year in which 1-28 the 15th anniversary of the date of the conversion occurs. In the 1-29 16th and subsequent years, the land shall be appraised as timber 1-30 land as provided by Subchapter E, so long as it qualifies as timber 1-31 land under Subchapter E. 1-32 SECTION 2. This Act takes effect September 1, 1997. 1-33 SECTION 3. The importance of this legislation and the 1-34 crowded condition of the calendars in both houses create an 1-35 emergency and an imperative public necessity that the 1-36 constitutional rule requiring bills to be read on three several 1-37 days in each house be suspended, and this rule is hereby suspended. 1-38 * * * * *