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AN ACT
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relating to the definitions of certain terms for purposes of the ad |
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valorem taxation of certain dealer's heavy equipment inventory. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Sections 23.1241(a)(1) and (2), Tax Code, are |
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amended to read as follows: |
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(1) "Dealer" means a person engaged in the business in |
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this state of selling, leasing, or renting heavy equipment. The |
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term does not include a bank, savings bank, savings and loan |
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association, credit union, or other finance company. In addition, |
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for purposes of taxation of a person's inventory of heavy equipment |
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in a tax year, the term does not include a person who renders the |
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person's inventory of heavy equipment for taxation in that tax year |
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by filing a rendition statement or property report in accordance |
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with Chapter 22. |
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(2) "Dealer's heavy equipment inventory" means all |
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items of heavy equipment that a dealer holds for sale, lease, or |
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rent in this state during a 12-month period. |
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SECTION 2. The only purposes of this Act are to exclude |
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certain financial institutions and other finance companies, as well |
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as persons who render their inventory of heavy equipment for |
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taxation in accordance with Chapter 22, Tax Code, from being |
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required to comply with the requirements of Sections 23.1241, |
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23.1242, and 23.1243, Tax Code, as amended or added by Chapter 322 |
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(H.B. 2476), Acts of the 82nd Legislature, Regular Session, 2011, |
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and to limit the definition of a dealer's heavy equipment inventory |
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for purposes of those sections of the Tax Code to items of heavy |
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equipment held for sale, lease, or rent in this state. This Act is |
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not intended to affect any litigation pending on the effective date |
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of this Act or filed on or after the effective date of this Act that |
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arises out of the changes in law made by Chapter 322 (H.B. 2476), |
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Acts of the 82nd Legislature, Regular Session, 2011. |
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SECTION 3. This Act applies only to ad valorem taxes imposed |
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for a tax year beginning on or after the effective date of this Act. |
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SECTION 4. This Act takes effect January 1, 2014. |
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______________________________ |
______________________________ |
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President of the Senate |
Speaker of the House |
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I certify that H.B. No. 826 was passed by the House on May 2, |
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2013, by the following vote: Yeas 147, Nays 0, 2 present, not |
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voting; and that the House concurred in Senate amendments to H.B. |
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No. 826 on May 23, 2013, by the following vote: Yeas 145, Nays 0, 2 |
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present, not voting. |
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______________________________ |
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Chief Clerk of the House |
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I certify that H.B. No. 826 was passed by the Senate, with |
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amendments, on May 22, 2013, by the following vote: Yeas 30, Nays |
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1. |
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______________________________ |
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Secretary of the Senate |
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APPROVED: __________________ |
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Date |
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__________________ |
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Governor |