AUTHOR'S / SPONSOR'S STATEMENT OF INTENT
Veterans represent a large sector of the Texas workforce. According to the federal Bureau of Labor Statistics, in 2013, 8.7 percent of veterans in Texas who have returned home since the September 2001 terrorist attacks were unemployed, up from 8.3 percent in 2012.
Texas must do better for the men and women who have placed their lives on the line in service to our country. Too many barriers still exist for veterans attempting to thrive in Texas' economic climate by starting their own businesses or those transitioning back into the civilian workforce.
S.J.R. 60 is the constitutional amendment authorizing a commercial property tax exemption for businesses that hire and retain a veteran in the business for at least 12 consecutive months.
S.B. 1821 is the enabling legislation to S.J.R. 60.
As proposed, S.J.R. 60 proposes a constitutional amendment authorizing the governing body of a political subdivision to adopt a local option exemption from ad valorem taxation of a portion, expressed as a dollar amount, of the market value of real property of a business that employs honorably discharged veterans.
RULEMAKING AUTHORITY
This bill does not expressly grant any additional rulemaking authority to a state officer, institution, or agency.
SECTION BY SECTION ANALYSIS
SECTION 1. Amends Article VIII, Texas Constitution, by adding Section 1-s, as follows:
Sec. 1-s. Authorizes the governing body of a political subdivision to exempt from ad valorem taxation a portion, expressed as a dollar amount, of the market value of real property that a person owns and uses to operate a business that employs one or more honorably discharged veterans of the armed services of the United States. Authorizes the legislature by general law to provide additional eligibility requirements for the exemption.
SECTION 2. Requires this proposed constitutional amendment to be submitted to the voters at an election to be held November 3, 2015. Sets forth the required language for the ballot.