Amend CSSB 5 (senate committee report) as follows:
(1) In SECTION 1.01 of the bill, in amended Section 11.145, Tax Code, strike added Subsection (d) (page 2, lines 6 through 10) and substitute the following:
(d) A person who leases tangible personal property is entitled to an exemption from taxation by a taxing unit of $25,000 of the total appraised value of all the tangible personal property the person owns that is held or used for the production of income and is subject to a lease, regardless of where the property is located in the taxing unit.
(2) In SECTION 1.01 of the bill, immediately after added Section 11.145(g), Tax Code (page 2, between lines 26 and 27), insert the following:
(h) When calculating an exemption to which the person is entitled under this section, a taxing unit shall apply the amount of the exemption to tangible personal property other than inventory that the person owns and is held or used for the production of income before applying the exemption to inventory owned by the person.
(h-1) For purposes of Subsection (h), "inventory" has the meaning assigned by Section 171.701.
(3) In the recital to SECTION 1.02 of the bill (page 2, line 28), strike "Subsections (a), (c-1), and (f)" and substitute "Subsection (c-1)".
(4) In SECTION 1.02 of the bill, in amended Section 22.01, Tax Code, strike amended Subsections (a) and (f) (page 2, lines 30 through 45, and page 2, lines 53 through 62).
(5) Between SECTIONS 1.03 and 1.04 of the bill (page 3, between lines 51 and 52), add the following appropriately numbered SECTIONS to the bill and renumber subsequent SECTIONS of the bill accordingly:
SECTION ____. Chapter 25, Tax Code, is amended by adding Section 25.14 to read as follows:
Sec. 25.14. INVENTORY AND TANGIBLE PERSONAL PROPERTY. (a) In this section, "inventory" means:
(1) a finished good held for sale, resale, lease, or rental;
(2) a raw or finished material held to be incorporated into or attached to tangible personal property to create a finished good; or
(3) a material or supply, including fuel or a spare part, being held for future use.
(b) For purposes of this section, the term "inventory" does not include:
(1) a dealer's motor vehicle inventory, as defined by Section 23.121;
(2) a dealer's vessel and outboard motor inventory, as defined by Section 23.124;
(3) a dealer's heavy equipment inventory, as defined by Section 23.1241; or
(4) retail manufactured housing inventory, as defined by Section 23.127.
(c) Except as provided by Subsection (d), a person's inventory shall be listed separately from any other tangible personal property the person holds or uses for the production of income.
(d) This section does not apply to tangible personal property for which a person is required to file a rendition statement under Section 22.01(j-3) but that the person is not required to render for taxation under any other provision of that section.
SECTION ____. Section 31.01, Tax Code, is amended by amending Subsection (c) and adding Subsection (c-3) to read as follows:
(c) The tax bill or a separate statement accompanying the tax bill shall:
(1) identify the property subject to the tax;
(2) state the appraised value, assessed value, and taxable value of the property;
(3) if the property is land appraised as provided by Subchapter C, D, E, or H, Chapter 23, state the market value and the taxable value for purposes of deferred or additional taxation as provided by Section 23.46, 23.55, 23.76, or 23.9807, as applicable;
(4) state the assessment ratio for the unit;
(5) state the type and amount of any partial exemption applicable to the property, indicating whether it applies to appraised or assessed value;
(6) state the total tax rate for the unit;
(7) state the amount of tax due, the due date, and the delinquency date;
(8) explain the payment option and discounts provided by Sections 31.03 and 31.05, if available to the unit's taxpayers, and state the date on which each of the discount periods provided by Section 31.05 concludes, if the discounts are available;
(9) state the rates of penalty and interest imposed for delinquent payment of the tax;
(10) include the name and telephone number of the assessor for the unit and, if different, of the collector for the unit;
(11) for real property, state for the current tax year and each of the preceding five tax years:
(A) the appraised value and taxable value of the property;
(B) the total tax rate for the unit;
(C) the amount of taxes imposed on the property by the unit; and
(D) the difference, expressed as a percent increase or decrease, as applicable, in the amount of taxes imposed on the property by the unit compared to the amount imposed for the preceding tax year; [and]
(12) for real property, state the differences, expressed as a percent increase or decrease, as applicable, in the following for the current tax year as compared to the fifth tax year before that tax year:
(A) the appraised value and taxable value of the property;
(B) the total tax rate for the unit; and
(C) the amount of taxes imposed on the property by the unit; and
(13) for tangible personal property, state separately the amount of taxes imposed on a person's inventory from the amount of taxes imposed on any other tangible personal property the person held or used for the production of income.
(c-3) For purposes of Subsection (c), "inventory" has the meaning assigned by Section 25.14.
(6) Strike SECTION 1.04 of the bill, adding Section 403.302(b-1), Government Code (page 3, lines 52 through 58).
(7) In SECTION 2.01 of the bill, strike added Section 171.701, Tax Code (page 4, lines 5 through 19), and substitute the following:
Sec. 171.701. DEFINITION. (a) In this subchapter, "inventory" means:
(1) a finished good held for sale, resale, lease, or rental, including:
(A) a dealer's vessel and outboard motor inventory, as defined by Section 23.124;
(B) a dealer's heavy equipment inventory, as defined by Section 23.1241; or
(C) retail manufactured housing inventory, as defined by Section 23.127;
(2) a raw or finished material held to be incorporated into or attached to tangible personal property to create a finished good; or
(3) a material or supply, including fuel or a spare part, being held for future use.
(b) Notwithstanding Subsection (a) and for purposes of this subchapter, the term "inventory" does not include a dealer's motor vehicle inventory, as defined by Section 23.121.
(8) In SECTION 2.01 of the bill, strike added Section 171.703(b), Tax Code (page 4, lines 34 and 35), and substitute the following:
(b) The total amount of credits that may be awarded under this subchapter for all reports originally due in a year may not exceed $700 million.
(9) In SECTION 2.01 of the bill, in added Section 171.703(c)(1), Tax Code (page 4, line 43), strike "$525 million" and substitute "$700 million".
(10) In SECTION 2.01 of the bill, strike added Section 171.703(d), Tax Code (page 4, lines 56 through 63), and substitute the following:
(d) For purposes of Subsection (a)(2), the aggregate amount of ad valorem taxes imposed on property owned by the taxable entity that were derived from the taxable value of inventory does not include, and a taxable entity is not entitled to a credit for any taxes imposed on, the taxable value of any inventory for which the taxable entity was exempt from taxation under Section 11.145.
(11) In SECTION 2.01 of the bill, in added Section 171.704(b), Tax Code (page 5, lines 9 through 12), strike the second sentence of the added subsection and substitute "A taxable entity must use the form in applying for the credit and submit the form electronically with the report for the period for which the credit is claimed.".
(12) In SECTION 2.01 of the bill, in added Section 171.705, Tax Code (page 5, line 26), between "REFUND." and "The", insert "(a)".
(13) In SECTION 2.01 of the bill, at the end of added Section 171.705, Tax Code (page 5, between lines 32 and 33), insert the following:
(b) The amount of a warrant issued by the comptroller under Subsection (a) does not accrue interest under Section 111.064.