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A JOINT RESOLUTION
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proposing a constitutional amendment to authorize the legislature |
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to exempt from ad valorem taxation a portion of the market value of |
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tangible personal property a person owns that is held or used for |
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the production of income. |
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BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 1(g), Article VIII, Texas Constitution, |
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is amended to read as follows: |
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(g) The Legislature by general law may exempt from ad |
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valorem taxation $250,000 of the market value of tangible personal |
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property a person owns that is held or used for the production of |
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income [and has a taxable value of less than the minimum amount |
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sufficient to recover the costs of the administration of the taxes |
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on the property, as determined by or under the general law granting |
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the exemption]. |
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SECTION 2. The following temporary provision is added to |
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the Texas Constitution: |
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TEMPORARY PROVISION. (a) This temporary provision applies |
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to the constitutional amendment proposed by the 89th Legislature, |
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Regular Session, 2025, to authorize the legislature to exempt from |
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ad valorem taxation a portion of the market value of tangible |
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personal property a person owns that is held or used for the |
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production of income. |
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(b) The amendment to Section 1(g), Article VIII, of this |
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constitution takes effect for the tax year beginning January 1, |
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2025. |
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(c) This temporary provision expires January 1, 2027. |
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SECTION 3. This proposed constitutional amendment shall be |
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submitted to the voters at an election to be held November 4, 2025. |
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The ballot shall be printed to permit voting for or against the |
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proposition: "The constitutional amendment to authorize the |
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legislature to exempt from ad valorem taxation a portion of the |
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market value of tangible personal property a person owns that is |
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held or used for the production of income." |