Bill Text: TX HB2973 | 2017-2018 | 85th Legislature | Introduced
Bill Title: Relating to the authority of the commissioners court of a county to exempt the inventory of certain retail businesses from ad valorem taxation by the county.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2017-03-22 - Referred to Ways & Means [HB2973 Detail]
Download: Texas-2017-HB2973-Introduced.html
85R9454 TJB-D | ||
By: Button | H.B. No. 2973 |
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relating to the authority of the commissioners court of a county to | ||
exempt the inventory of certain retail businesses from ad valorem | ||
taxation by the county. | ||
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. RETAIL INVENTORY. (a) A person is entitled to | ||
an exemption from taxation by a county of the appraised value of the | ||
person's inventory held for sale at retail if the exemption is | ||
adopted by the commissioners court of the county in the manner | ||
provided by law for official action by the commissioners court. | ||
(b) The exemption provided by Subsection (a) and adopted by | ||
a commissioners court applies to: | ||
(1) the tax year: | ||
(A) in which the exemption is adopted by the | ||
commissioners court if officially adopted before April 15; or | ||
(B) immediately following the tax year in which | ||
the exemption is adopted by the commissioners court if officially | ||
adopted on or after April 15; and | ||
(2) the four tax years following that tax year. | ||
(c) 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 ad valorem taxes imposed | ||
for a tax year that begins on or after the effective date of this | ||
Act. | ||
SECTION 3. This Act takes effect January 1, 2018, but only | ||
if the constitutional amendment proposed by the 85th Legislature, | ||
Regular Session, 2017, authorizing the legislature to permit one or | ||
more political subdivisions of this state to exempt from ad valorem | ||
taxation 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. |