Bill Text: TX HB2804 | 2019-2020 | 86th Legislature | Introduced
Bill Title: Relating to the exemption from ad valorem taxation of tangible personal property consisting of certain food products held by the owner of the property for sale at retail.
Sponsorship: Partisan Bill (Republican 1)
Status: (Introduced - Dead) 2019-03-12 - Referred to Ways & Means [HB2804 Detail]
Download: Texas-2019-HB2804-Introduced.html
| 86R3331 SMT-D | ||
| By: Button | H.B. No. 2804 | |
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| relating to the exemption from ad valorem taxation of tangible | ||
| personal property consisting of certain food products held by the | ||
| owner of the property for sale at retail. | ||
| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
| SECTION 1. Subchapter B, Chapter 11, Tax Code, is amended by | ||
| adding Section 11.37 to read as follows: | ||
| Sec. 11.37. FOOD PRODUCTS HELD FOR SALE AT RETAIL. The | ||
| owner of tangible personal property consisting of food products | ||
| exempted from the sales and use tax under Section 151.314(a) is | ||
| entitled to an exemption from ad valorem taxation of the appraised | ||
| value of the property if the property is held by the owner for sale | ||
| at retail. | ||
| SECTION 2. This Act applies only to ad valorem taxes imposed | ||
| for a tax year beginning on or after the effective date of this Act. | ||
| SECTION 3. This Act takes effect January 1, 2020, but only | ||
| if the constitutional amendment proposed by the 86th Legislature, | ||
| Regular Session, 2019, authorizing the legislature to exempt from | ||
| ad valorem taxation tangible personal property consisting of food | ||
| or food products held by the owner of the property for sale at | ||
| retail is approved by the voters. If that amendment is not approved | ||
| by the voters, this Act has no effect. | ||
