Bill Text: TX HB2136 | 2015-2016 | 84th Legislature | Introduced
Bill Title: Relating to the exemption of inventory of certain retail businesses from ad valorem taxation by a school district.
Sponsorship: Partisan Bill (Republican 2)
Status: (Introduced - Dead) 2015-03-13 - Referred to Ways & Means [HB2136 Detail]
Download: Texas-2015-HB2136-Introduced.html
| 84R2563 TJB-D | ||
| By: Button | H.B. No. 2136 | |
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| relating to the exemption of inventory of certain retail businesses | ||
| from ad valorem taxation by a school district. | ||
| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
| SECTION 1. Subchapter B, Chapter 11, Tax Code, is amended | ||
| by adding Section 11.35 to read as follows: | ||
| Sec. 11.35. RETAIL INVENTORY. (a) A person is entitled to | ||
| an exemption from taxation by a school district of the appraised | ||
| value of the person's inventory held for sale at retail. | ||
| (b) The exemption provided by Subsection (a) does not apply | ||
| to: | ||
| (1) real property; | ||
| (2) a dealer's motor vehicle inventory, as defined by | ||
| Section 23.121; | ||
| (3) a dealer's heavy equipment inventory, as defined | ||
| by Section 23.1241; | ||
| (4) a dealer's vessel and outboard motor inventory, as | ||
| defined by Section 23.124; or | ||
| (5) retail manufactured housing inventory, as defined | ||
| by Section 23.127. | ||
| SECTION 2. This Act applies only to an ad valorem tax year | ||
| that begins on or after the effective date of this Act. | ||
| SECTION 3. This Act takes effect January 1, 2016, but only | ||
| if the constitutional amendment proposed by the 84th Legislature, | ||
| Regular Session, 2015, authorizing the legislature to exempt from | ||
| ad valorem taxation by one or more political subdivisions of this | ||
| state a person's inventory held for sale at retail is approved by | ||
| the voters. If that amendment is not approved by the voters, this | ||
| Act has no effect. | ||
