Bill Text: TX HB3108 | 2013-2014 | 83rd Legislature | Introduced
Bill Title: Relating to the exemption from ad valorem taxation of oil, natural gas, and other petroleum products held temporarily in this state for certain purposes.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2013-03-19 - Referred to Ways & Means [HB3108 Detail]
Download: Texas-2013-HB3108-Introduced.html
83R9732 TJB-D | ||
By: Morrison | H.B. No. 3108 |
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relating to the exemption from ad valorem taxation of oil, natural | ||
gas, and other petroleum products held temporarily in this state | ||
for certain purposes. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Sections 11.253(a)(2), (4), (5), and (6), Tax | ||
Code, are amended to read as follows: | ||
(2) "Goods-in-transit" means tangible personal | ||
property that: | ||
(A) is acquired in or imported into this state to | ||
be forwarded to another location in this state or outside this | ||
state; | ||
(B) is stored under a contract of bailment by a | ||
public warehouse operator at one or more public warehouse | ||
facilities in this state that are not in any way owned or controlled | ||
by the owner of the personal property for the account of the person | ||
who acquired or imported the property; | ||
(C) is transported to another location in this | ||
state or outside this state not later than 175 days after the date | ||
the person acquired the property in or imported the property into | ||
this state; and | ||
(D) does not include [ |
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vessel and outboard motor inventory, dealer's heavy equipment | ||
inventory, or retail manufactured housing inventory. | ||
(4) [ |
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assigned by Section 7.102, Business & Commerce Code. | ||
(5) [ |
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that: | ||
(A) is both a bailee and a warehouse; and | ||
(B) stores under a contract of bailment, at one | ||
or more public warehouse facilities, tangible personal property | ||
that is owned by other persons solely for the account of those | ||
persons and not for the operator's account. | ||
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, 2014, but only | ||
if the constitutional amendment proposed by the 83rd Legislature, | ||
Regular Session, 2013, to provide oil, natural gas, and other | ||
petroleum products held temporarily in this state the same ad | ||
valorem tax-exempt status as is currently provided to other | ||
tangible personal property is approved by the voters. If that | ||
amendment is not approved by the voters, this Act has no effect. |