Bill Text: TX HB128 | 2015-2016 | 84th Legislature | Comm Sub

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Bill Title: Relating to the exemption from ad valorem taxation of mineral interests having a value of less than a certain amount.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2015-05-13 - Placed on General State Calendar [HB128 Detail]

Download: Texas-2015-HB128-Comm_Sub.html

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84R1401 GRM-D
By: Goldman, Cyrier H.B. No. 128

A BILL TO BE ENTITLED
AN ACT
relating to the exemption from ad valorem taxation of mineral
interests 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 11.146, Tax Code, is
amended to read as follows:
Sec. 11.146. MINERAL INTEREST HAVING VALUE OF LESS THAN
$2,000 [$500].
SECTION 2. Section 11.146(a), Tax Code, is amended to read
as follows:
(a) A person is entitled to an exemption from taxation of a
mineral interest the person owns if the interest has a taxable value
of less than $2,000 [$500].
SECTION 3. This Act applies only to a tax year beginning on
or after the effective date of this Act.
SECTION 4. This Act takes effect January 1, 2016.