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A BILL TO BE ENTITLED
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AN ACT
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relating to the definition of "heavy equipment" for purposes of the |
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ad 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)(6), Tax Code, is amended to |
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read as follows: |
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(6) "Heavy equipment" means self-propelled, |
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self-powered, or pull-type equipment, including farm equipment or a |
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diesel engine, that weighs at least 1,500 pounds and is intended to |
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be used for agricultural, construction, industrial, maritime, |
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mining, or forestry uses. The term does not include: |
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(A) a motor vehicle [that is] required by[:
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[(A)] Chapter 501, Transportation Code, to be |
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titled; [or] |
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(B) a motor vehicle required by Chapter 502, |
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Transportation Code, to be registered; or |
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(C) equipment used for purposes of producing oil |
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or gas that: |
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(i) is leased or rented to a person by a |
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dealer; and |
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(ii) is of a type designed to not be moved |
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to a different location 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, 2016. |