By McReynolds H.B. No. 1013
77R3921 JD-F
A BILL TO BE ENTITLED
1-1 AN ACT
1-2 relating to the exemption of farm products from ad valorem
1-3 taxation.
1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-5 SECTION 1. Section 11.16(c), Tax Code, is amended to read as
1-6 follows:
1-7 (c) For purposes of this exemption, the following
1-8 definitions apply:
1-9 (1) "Farm products" include livestock, poultry, and
1-10 timber.
1-11 (2) "In the hands of the producer," for livestock and
1-12 poultry, means under the ownership of the person who is financially
1-13 providing for the physical requirements of such livestock and
1-14 poultry on January 1 of the tax year and, for timber, means
1-15 standing timber or timber that has been harvested and, on January 1
1-16 of the tax year, is located on the real property on which it was
1-17 produced or [and] is under the ownership of the person who owned
1-18 the timber when it was standing.
1-19 SECTION 2. This Act takes effect January 1, 2002, and applies
1-20 only to a tax year that begins on or after that date.