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A BILL TO BE ENTITLED
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AN ACT
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relating to methods and procedures of ad valorem taxation of heavy |
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equipment |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 23.1241, Tax Code, is amended by adding |
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Subsection (k) to read as follows: |
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(k) This section does not apply to a dealer who has elected |
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to be subject to Sections 23.12 and 23.1243. |
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SECTION 2. Subchapter B, Chapter 23, Tax Code, is amended by |
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adding Section 23.1243 to read as follows: |
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Sec. 23.1243. ELECTION OF METHOD OF AD VALOREM TAXATION. |
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(a) A dealer who is otherwise subject to Section 23.1241 may |
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elect to be subject to Section 23.12 if the dealer complies with the |
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requirements of this section. |
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(b) A dealer who elects to be subject to Section 23.12 must |
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file an application with the chief appraiser in accordance with |
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that section. Such application must clearly indicate the dealer has |
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elected to be subject to Section 23.12. |
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(c) A dealer that elects to be subject to Section 23.12 may |
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not subsequently elect to be subject to Section 23.1241 until after |
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the third anniversary of an election under sub-section (b). |
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SECTION 3. This Act takes effect September 1, 2011. |