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A JOINT RESOLUTION
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proposing a constitutional amendment authorizing the legislature |
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to exempt from ad valorem taxation income-producing tangible |
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personal property for a certain period of time. |
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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 tangible personal property that is held or used |
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for the production of income for a certain period of time [and] or |
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that has a taxable value of less than an amount specified [the |
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minimum amount sufficient to recover the costs of the |
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administration of the taxes on the property, as determined] by the |
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Legislature in [or under] the general law granting the exemption. |
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SECTION 2. 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 authorizing the |
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legislature to exempt from ad valorem taxation income-producing |
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tangible personal property for a certain period of time." |