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A JOINT RESOLUTION
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proposing a constitutional amendment authorizing the legislature |
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to exempt from ad valorem taxation precious metal held in the Texas |
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Bullion Depository. |
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BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Article VIII, Texas Constitution, is amended by |
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adding Section 1-p to read as follows: |
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Sec. 1-p. The legislature by general law may exempt from ad |
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valorem taxation precious metal held in the Texas Bullion |
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Depository. The legislature by general law may define "precious |
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metal" for purposes of this section. |
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SECTION 2. This proposed constitutional amendment shall be |
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submitted to the voters at an election to be held November 7, 2017. |
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The ballot shall be printed to provide for voting for or against the |
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proposition: "The constitutional amendment authorizing the |
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legislature to exempt from ad valorem taxation precious metal held |
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in the Texas Bullion Depository." |