85S10685 SMT-F
 
  By: Capriglione H.J.R. No. 38
 
 
 
A JOINT RESOLUTION
  proposing a constitutional amendment authorizing the legislature
  to exempt from ad valorem taxation precious metal held in the Texas
  Bullion Depository.
         BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Article VIII, Texas Constitution, is amended by
  adding Section 1-p to read as follows:
         Sec. 1-p.  The legislature by general law may exempt from ad
  valorem taxation precious metal held in the Texas Bullion
  Depository.  The legislature by general law may define "precious
  metal" for purposes of this section.
         SECTION 2.  This proposed constitutional amendment shall be
  submitted to the voters at an election to be held November 7, 2017.
  The ballot shall be printed to provide for voting for or against the
  proposition: "The constitutional amendment authorizing the
  legislature to exempt from ad valorem taxation precious metal held
  in the Texas Bullion Depository."