Bill Text: TX HB623 | 2023-2024 | 88th Legislature | Engrossed
Bill Title: Relating to an exemption from ad valorem taxation of tangible personal property consisting of animal feed held by the owner of the property for sale at retail.
Sponsorship: Slight Partisan Bill (Republican 4-2)
Status: (Engrossed - Dead) 2023-04-27 - Referred to Local Government [HB623 Detail]
Download: Texas-2023-HB623-Engrossed.html
| 88R16632 LHC-D | ||
| By: Harris of Anderson, Raymond, et al. | H.B. No. 623 | |
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| relating to an exemption from ad valorem taxation of tangible | ||
| personal property consisting of animal feed 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 11.162 to read as follows: | ||
| Sec. 11.162. ANIMAL FEED HELD FOR SALE AT RETAIL. The owner | ||
| of tangible personal property consisting of animal feed exempted | ||
| from sales and use taxes under Section 151.316(a)(3) or (4) is | ||
| entitled to an exemption from ad valorem taxation of the appraised | ||
| value of the tangible personal 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, 2024, but only | ||
| if the constitutional amendment proposed by the 88th Legislature, | ||
| Regular Session, 2023, authorizing the legislature to exempt from | ||
| ad valorem taxation tangible personal property consisting of animal | ||
| feed 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. | ||
