Bill Text: TX SB1449 | 2021-2022 | 87th Legislature | Introduced
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Relating to the exemption from ad valorem taxation of income-producing tangible personal property having a value of less than a certain amount.
Spectrum: Moderate Partisan Bill (Republican 8-2)
Status: (Passed) 2021-06-07 - Effective on 1/1/22 [SB1449 Detail]
Download: Texas-2021-SB1449-Introduced.html
Bill Title: Relating to the exemption from ad valorem taxation of income-producing tangible personal property having a value of less than a certain amount.
Spectrum: Moderate Partisan Bill (Republican 8-2)
Status: (Passed) 2021-06-07 - Effective on 1/1/22 [SB1449 Detail]
Download: Texas-2021-SB1449-Introduced.html
87R855 LHC-D | ||
By: Bettencourt, et al. | S.B. No. 1449 |
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relating to the exemption from ad valorem taxation of | ||
income-producing tangible personal property having a value of less | ||
than a certain amount. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. The heading to Section 11.145, Tax Code, is | ||
amended to read as follows: | ||
Sec. 11.145. INCOME-PRODUCING TANGIBLE PERSONAL PROPERTY | ||
HAVING VALUE OF LESS THAN $2,500 [ |
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SECTION 2. Section 11.145(a), Tax Code, is amended to read | ||
as follows: | ||
(a) A person is entitled to an exemption from taxation of | ||
the tangible personal property the person owns that is held or used | ||
for the production of income if that property has a taxable value of | ||
less than $2,500 [ |
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SECTION 3. 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 4. This Act takes effect January 1, 2022. |