By Sadler H.B. No. 2866
77R3914 DAK-D
A BILL TO BE ENTITLED
1-1 AN ACT
1-2 relating to exempting boats and motors purchased exclusively for
1-3 rental from the sales and use tax on boats and motors.
1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-5 SECTION 1. Section 160.024, Tax Code, is amended to read as
1-6 follows:
1-7 Sec. 160.024. EXEMPTIONS [EXEMPTION]. The taxes imposed by
1-8 this chapter do not apply to the sale of a taxable boat or motor or
1-9 to the use of a taxable boat or motor:
1-10 (1) by this state or its political subdivisions or the
1-11 federal government; or
1-12 (2) by a purchaser who exclusively uses the boat or
1-13 motor for rental to others.
1-14 SECTION 2. (a) This Act takes effect immediately if it
1-15 receives a vote of two-thirds of all the members elected to each
1-16 house, as provided by Section 39, Article III, Texas Constitution.
1-17 If this Act does not receive the vote necessary for immediate
1-18 effect, this Act takes effect September 1, 2001.
1-19 (b) The change in law made by this Act does not affect taxes
1-20 imposed before the effective date of this Act, and the law in
1-21 effect before the effective date of this Act is continued in effect
1-22 for purposes of the liability for and collection of those taxes.