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Floor Packet Page No. 58
Amend HB 3 by adding the following appropriately numbered
SECTION:
SECTION . Section 23.12, Tax Code, is amended by adding
Subsection (h) to read as follows:
(h) In this subsection, "drug supplies held in surplus"
means drugs, as defined by the TEXAS FOOD, DRUG AND COSMETIC ACT,
Section 431.002(14), Health and Safety Code, that are owned by a
person who holds a wholesale drug distributor license under Chapter
431, for use in responding to public emergencies, including
trauma-related incidents, and that are held for less than
sixty-(60) days, but only that percentage of the owner's inventory
necessary to treat victims of public emergencies by attending
physicians or other emergency health care personnel. In
determining the market value of drug supplies held in surplus, the
chief appraiser shall exclude as economic obsolescence from the
market value the value attributable to drug supplies held in
surplus that exceed the amount of drugs held for normal market
purposes. For rendition purposes, in calculating the number of
days drug supplies held in surplus are held in an inventory, the
owner shall quantify the average number of days of the owner's
day-to-day working inventory (cycle stock) that the owner holds to
meet normal customer demand and shall subtract that number of days
from the average number of days the owner holds the owner's total
drug inventory. When the owner renders the owner's total drug
inventory, the owner shall include information sufficient to
establish the validity of the owner's calculations under this
subsection. Notwithstanding any other provision of this
subsection, the percentage of an owner's drug supplies held in
surplus inventory may not exceed three-(3) days of the owner's
total inventory of drugs as defined by the TEXAS FOOD, DRUG and
COSMETIC ACT, Section 431.002(14), Health and Safety Code