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A BILL TO BE ENTITLED
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AN ACT
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relating to the eligibility of land secured by a home equity loan to |
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be designated for agricultural use for ad valorem tax purposes. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 23.42(a), Tax Code, is amended to read as |
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follows: |
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(a) An [Except as provided by Subsection (a-1), an] |
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individual is entitled to have land he owns designated for |
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agricultural use if, on January 1: |
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(1) the land has been devoted exclusively to or |
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developed continuously for agriculture for the three years |
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preceding the current year; |
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(2) the individual is using and intends to use the land |
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for agriculture as an occupation or a business venture for profit |
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during the current year; and |
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(3) agriculture is the individual's primary occupation |
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and primary source of income. |
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SECTION 2. Section 23.42(a-1), Tax Code, is repealed. |
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SECTION 3. This Act takes effect January 1, 2020. |