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A JOINT RESOLUTION
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proposing a constitutional amendment authorizing the legislature |
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to exempt from ad valorem taxation a high-speed passenger rail |
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facility. |
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BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Article VIII, Texas Constitution, is amended by |
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adding Section 1-p to read as follows: |
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Sec. 1-p. (a) In this section: |
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(1) "High-speed rail" means a rail technology that |
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permits the operation of rolling stock between scheduled stops at |
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speeds of at least 125 miles per hour. |
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(2) "Rolling stock" means high-speed electrically |
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propelled trains that run on rails or electromagnetic guideways. |
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(b) The legislature by general law may exempt from ad |
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valorem taxation a high-speed passenger rail facility. A general |
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law enacted under this section may limit the period for which such a |
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facility may be exempted from ad valorem taxation. |
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SECTION 2. This proposed constitutional amendment shall be |
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submitted to the voters at an election to be held November 3, 2009. |
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The ballot shall be printed to permit voting for or against the |
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proposition: "The constitutional amendment authorizing the |
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legislature to exempt from ad valorem taxation a high-speed |
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passenger rail facility." |