Bill Text: TX HB2973 | 2017-2018 | 85th Legislature | Introduced

Texas House Bill 2973 (Prior Session Legislation)

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.

Sponsorship: Partisan Bill (Republican 1)

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



	A BILL TO BE ENTITLED
	AN ACT
	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.