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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 a precious |
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metal depository located in this state. |
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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 a precious metal depository |
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located in this state. The legislature by general law may define |
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"precious metal" and "precious metal depository" for purposes of |
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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 5, 2019. |
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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 a precious metal depository located in this state." |