Bill Text: TX SB474 | 2019-2020 | 86th Legislature | Introduced

Texas Senate Bill 474 (Prior Session Legislation)

Introduced

Bill Title: Relating to the eligibility of land secured by a home equity loan to be designated for agricultural use for ad valorem tax purposes.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2019-03-19 - Left pending in committee [SB474 Detail]

Download: Texas-2019-SB474-Introduced.html

	86R3161 JES-F

	By: Hancock	S.B. No. 474



	A BILL TO BE ENTITLED
	AN ACT
	relating to the eligibility of land secured by a home equity loan to
	be designated for agricultural use for ad valorem tax purposes.
	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
	SECTION 1. Section 23.42(a), Tax Code, is amended to read as
	follows:
	(a) An [~~Except as provided by Subsection (a-1), an~~]
	individual is entitled to have land he owns designated for
	agricultural use if, on January 1:
	(1) the land has been devoted exclusively to or
	developed continuously for agriculture for the three years
	preceding the current year;
	(2) the individual is using and intends to use the land
	for agriculture as an occupation or a business venture for profit
	during the current year; and
	(3) agriculture is the individual's primary occupation
	and primary source of income.
	SECTION 2. Section 23.42(a-1), Tax Code, is repealed.
	SECTION 3. This Act takes effect January 1, 2020.