81R8321 JE-D
By: Legler H.B. No. 1257
A BILL TO BE ENTITLED
AN ACT
relating to the payment in installments of ad valorem taxes on
certain property owned by a business entity and located in a
disaster area.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 31.032(a), Tax Code, is amended to read
as follows:
(a) This section applies only to:
(1) real property that:
(A) is:
(i) the residence homestead of the owner or
consists of property that is used for residential purposes and that
has fewer than five living units; or
(ii) owned or leased by a business entity
that had $5 million or less in gross receipts in the entity's most
recent federal tax year or state franchise tax annual period,
according to the applicable federal income tax return or state
franchise tax report of the entity;
(B) is located in a disaster area; and
(C) has been damaged as a direct result of the
disaster; [and]
(2) tangible personal property that is owned or leased
by a business entity described by Subsection (a)(1)(A)(ii); and
(3) taxes that are imposed on the property by a taxing
unit before the first anniversary of the disaster.
SECTION 2. This Act takes effect immediately if it receives
a vote of two-thirds of all the members elected to each house, as
provided by Section 39, Article III, Texas Constitution. If this
Act does not receive the vote necessary for immediate effect, this
Act takes effect September 1, 2009.