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79R4160 JD-F

By:  Phillips                                                     H.B. No. 1065



A BILL TO BE ENTITLED

AN ACT

relating to excepting certain visual works of art from the 
requirement that personal property be rendered for ad valorem tax 
purposes.
	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:                        
	SECTION 1.  Section 22.01, Tax Code, is amended by adding 
Subsection (k) to read as follows:
	(k)  Notwithstanding Subsections (a) and (b), a person is not 
required to render for taxation an inventory of visual works of art 
that the person owns or manages and controls as a fiduciary.  In 
this subsection, "visual work of art":
		(1)  means an original and creative work that is:                      
			(A)  a painting, a drawing, or a limited edition 
fine art print;    
			(B)  a sculpture; or                                                  
			(C)  a work of traditional or fine craft; and                         
		(2)  does not include:                                                 
			(A)  an item that was created for 
industry-oriented or industry-related production;
			(B)  an item that was crafted as a hobby;                             
			(C)  an offset print; or                                              
			(D)  computer-generated multiple images.                              
	SECTION 2.  This Act applies only to the rendition of 
personal property for ad valorem tax purposes for a tax year that 
begins on or after the effective date of this Act.
	SECTION 3.  This Act takes effect January 1, 2006.