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A BILL TO BE ENTITLED
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AN ACT
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relating to ad valorem tax relief for certain commercial aircraft |
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temporarily located in this state for manufacturing or assembly |
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purposes. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter A, Chapter 23, Tax code, is amended by |
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adding section Sec. 23.1211 to read as follows: |
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Sec. 23.1211. TEMPORARY PRODUCTION AIRCRAFT VALUE. (a) In |
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this section, "temporary production aircraft" means a transport |
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category aircraft as defined in the Federal Aviation Regulations: |
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(1) temporarily held in the state; |
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(2) with respect to which a Federal Aviation |
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Administration Special Airworthiness Certificate has been issued; |
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and |
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(3) that is operated pursuant to a Federal Aviation |
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Administration Special Flight Permit. |
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(4) for purposes of this section, temporary production |
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aircraft shall have a maximum takeoff weight of at least 145,000 |
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pounds. |
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(b) In this section, "maximum takeoff weight" means the |
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maximum takeoff weight listed in the aircraft's Type Certificate |
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Data Sheet for the lowest rated configuration or, to the extent |
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that the aircraft does not yet have a Type Certificate Data Sheet, |
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then the maximum takeoff weight target published by the |
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manufacturer. |
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(c) In this section, "list price" means the price listed in |
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the most recently published edition of the International Bureau of |
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Aviation Aircraft Values Book. |
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(d) For purpose of the computation of property tax, the |
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chief appraiser shall determine the market value of temporary |
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production aircraft on January 1 to be ten percent of such published |
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list price. |
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SECTION 2. Section 23.1211, Tax Code, as added by this Act, |
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applies only to an ad valorem tax year that begins on or after |
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January 1, 2012. |