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A BILL TO BE ENTITLED
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AN ACT
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relating to the exemption from ad valorem taxation of mineral |
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interests having a value of less than a certain amount. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. The heading to Section 11.146, Tax Code, is |
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amended to read as follows: |
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Sec. 11.146. MINERAL INTEREST HAVING VALUE OF LESS THAN |
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$2,000 [$500]. |
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SECTION 2. Section 11.146(a), Tax Code, is amended to read |
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as follows: |
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(a) A person is entitled to an exemption from taxation of a |
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mineral interest the person owns if the interest has a taxable value |
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of less than $2,000 [$500]. |
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SECTION 3. This Act applies only to a tax year beginning on |
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or after the effective date of this Act. |
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SECTION 4. This Act takes effect January 1, 2018. |