1-1     By:  Cain                                             S.B. No. 1464
 1-2           (In the Senate - Filed March 12, 1999; March 15, 1999, read
 1-3     first time and referred to Committee on Finance; April 23, 1999,
 1-4     reported favorably by the following vote:  Yeas 8, Nays 0;
 1-5     April 23, 1999, sent to printer.)
 1-6                            A BILL TO BE ENTITLED
 1-7                                   AN ACT
 1-8     relating to the appraisal of furniture, fixtures, and equipment for
 1-9     ad valorem tax purposes.
1-10           BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-11           SECTION 1.  Subchapter B, Chapter 23, Tax Code, is amended by
1-12     adding Section 23.24 to read as follows:
1-13           Sec. 23.24.  FURNITURE, FIXTURES, AND EQUIPMENT.  If real
1-14     property is appraised by a method that takes into account the value
1-15     of furniture, fixtures, and equipment in or on the real property,
1-16     the furniture, fixtures, and equipment shall not be subject to
1-17     additional appraisal or taxation as personal property.
1-18           SECTION 2.  This Act takes effect September 1, 1999.
1-19           SECTION 3.  The importance of this legislation and the
1-20     crowded condition of the calendars in both houses create an
1-21     emergency and an imperative public necessity that the
1-22     constitutional rule requiring bills to be read on three several
1-23     days in each house be suspended, and this rule is hereby suspended.
1-24                                  * * * * *