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A BILL TO BE ENTITLED
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AN ACT
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relating to a study by Texas A&M University of the appraisal of |
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agricultural land 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. STUDY ON TAX APPRAISAL OF AGRICULTURAL LAND. (a) |
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The president of Texas A&M University shall designate a department |
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or entity at the university to conduct a study of the methods and |
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procedures for appraising agricultural land for ad valorem tax |
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purposes. |
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(b) The study must consider the feasibility and effect of: |
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(1) authorizing the comptroller of public accounts to |
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accept actual agricultural production data, including data |
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regarding expenses and income from production of crops and |
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livestock, from an appraisal district in developing rules for the |
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appraisal of agricultural land for ad valorem tax purposes; |
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(2) determining net to land value by averaging the |
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annual net income that a class of land would likely generate over a |
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10-year period; |
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(3) requiring all of the production expenses incurred |
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by a property owner and a tenant, regardless of whether the expenses |
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are shared expenses between the property owner and the tenant, to be |
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considered when appraising agricultural land; |
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(4) requiring a person appraising agricultural land |
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for taxation to have knowledge and experience in agricultural land |
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valuation; and |
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(5) requiring each appraisal review board to have |
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equal membership from rural and non-rural areas. |
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SECTION 2. REPORT. Not later than January 1, 2023, Texas |
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A&M University shall submit a report on the results of the study to |
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the lieutenant governor, the speaker of the house of |
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representatives, and each standing committee of the legislature |
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with jurisdiction over agricultural matters. |
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SECTION 3. EXPIRATION. This Act expires September 1, 2023. |
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SECTION 4. EFFECTIVE DATE. This Act takes effect |
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immediately if it receives a vote of two-thirds of all the members |
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elected to each house, as provided by Section 39, Article III, Texas |
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Constitution. If this Act does not receive the vote necessary for |
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immediate effect, this Act takes effect September 1, 2021. |