By: Bettencourt, et al.  S.B. No. 1449
         (In the Senate - Filed March 10, 2021; March 24, 2021, read
  first time and referred to Committee on Finance; April 19, 2021,
  reported favorably by the following vote:  Yeas 14, Nays 0;
  April 19, 2021, sent to printer.)
Click here to see the committee vote
 
 
A BILL TO BE ENTITLED
 
AN ACT
 
  relating to the exemption from ad valorem taxation of
  income-producing tangible personal property having a value of less
  than a certain amount.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  The heading to Section 11.145, Tax Code, is
  amended to read as follows:
         Sec. 11.145.  INCOME-PRODUCING TANGIBLE PERSONAL PROPERTY
  HAVING VALUE OF LESS THAN $2,500 [$500].
         SECTION 2.  Section 11.145(a), Tax Code, is amended to read
  as follows:
         (a)  A person is entitled to an exemption from taxation of
  the tangible personal property the person owns that is held or used
  for the production of income if that property has a taxable value of
  less than $2,500 [$500].
         SECTION 3.  This Act applies only to ad valorem taxes imposed
  for a tax year that begins on or after the effective date of this
  Act.
         SECTION 4.  This Act takes effect January 1, 2022.
 
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