| |
| |
|
|
A JOINT RESOLUTION
|
|
|
proposing a constitutional amendment authorizing the legislature |
|
|
to exempt from ad valorem taxation income-producing tangible |
|
|
personal property having a value of less than a certain amount. |
|
|
BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|
|
SECTION 1. Section 1(g), Article VIII, Texas Constitution, |
|
|
is amended to read as follows: |
|
|
(g) The Legislature by general law may exempt from ad |
|
|
valorem taxation tangible personal property that is held or used |
|
|
for the production of income and that has a taxable value of less |
|
|
than $100,000 [the minimum amount sufficient to recover the costs |
|
|
of the administration of the taxes on the property, as determined by |
|
|
or under the general law granting the exemption]. |
|
|
SECTION 2. This proposed constitutional amendment shall be |
|
|
submitted to the voters at an election to be held November 7, 2023. |
|
|
The ballot shall be printed to permit voting for or against the |
|
|
proposition: "The constitutional amendment authorizing the |
|
|
legislature to exempt from ad valorem taxation income-producing |
|
|
tangible personal property having a value of less than $100,000." |