88R6481 TJB-D
 
  By: Rogers H.B. No. 1934
 
 
 
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 $100,000 [$2,500].
         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 $100,000 [$2,500].
         SECTION 3.  The change in law made by this Act applies only
  to a tax year beginning on or after January 1, 2024.
         SECTION 4.  This Act takes effect January 1, 2024, but only
  if the constitutional amendment proposed by the 88th Legislature,
  Regular Session, 2023, authorizing the legislature to exempt from
  ad valorem taxation income-producing tangible personal property
  having a value of less than a certain amount is approved by the
  voters. If that amendment is not approved by the voters, this Act
  has no effect.