Bill Text: TX HB740 | 2011-2012 | 82nd Legislature | Introduced
Bill Title: Relating to liability for ad valorem taxes on property that is the subject of a consignment.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2011-02-22 - Referred to Ways & Means [HB740 Detail]
Download: Texas-2011-HB740-Introduced.html
82R1544 ALL-D | ||
By: Orr | H.B. No. 740 |
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relating to liability for ad valorem taxes on property that is the | ||
subject of a consignment. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Section 32.07(h), Tax Code, is amended to read as | ||
follows: | ||
(h) For purposes of Subsection (a), a person is considered | ||
to be an owner of property subject to: | ||
(1) an installment contract of sale if the person is: | ||
(A) [ |
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(B) [ |
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duty under the installment contract to pay taxes on the property; or | ||
(2) a consignment if the person is: | ||
(A) the consignor of the property; or | ||
(B) a consignee of the property who has the duty | ||
under the consignment to pay taxes on the property. | ||
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, 2012. |