88R16520 TJB-F
 
  By: Parker, et al. S.J.R. No. 2
 
 
 
A JOINT RESOLUTION
  proposing a constitutional amendment to authorize the legislature
  to exempt from ad valorem taxation a portion of the market value of
  tangible personal property a person owns that is held or used for
  the production of income.
         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 $25,000 of the market value of tangible personal
  property a person owns that is held or used for the production of
  income [and has a taxable value of less than 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 to authorize the
  legislature to exempt from ad valorem taxation a portion of the
  market value of tangible personal property a person owns that is
  held or used for the production of income."