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A BILL TO BE ENTITLED
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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. Section 23.1241(a), Tax Code, is amended by |
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amending Subdivisions (1) and (2) and adding Subdivision (1-a) to |
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read as follows: |
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(1) "Business location" or "location at which the |
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dealer conducts business" does not include a facility that is owned |
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and controlled by a person who is not a dealer and is used to store |
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or warehouse heavy equipment. |
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(1-a) "Dealer" means a person whose primary [engaged
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in the] business in this state consists of selling, leasing, or |
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renting heavy equipment and who operates a business location in |
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this state that is open to the public and at which the person holds |
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inventory that is available for sale, lease, or rent. |
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(2) "Dealer's heavy equipment inventory" means all |
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items of heavy equipment that a dealer owns and holds in the |
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dealer's physical possession and that are available for sale, |
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lease, or rent at the dealer's business location in this state |
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during a 12-month period. |
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SECTION 2. 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 3. This Act takes effect January 1, 2014. |