By: Legler, et al. (Senate Sponsor - Williams) H.B. No. 1257
(In the Senate - Received from the House April 29, 2009;
May 1, 2009, read first time and referred to Committee on Finance;
May 15, 2009, reported favorably by the following vote: Yeas 10,
Nays 0; May 15, 2009, sent to printer.)
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, Tax Code, is amended by amending
Subsection (a) and adding Subsection (h) 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 not more than the amount calculated as provided by
Subsection (h) 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 Subdivision (1)(A)(ii); and
(3) taxes that are imposed on the property by a taxing
unit before the first anniversary of the disaster.
(h) For the 2009 tax year, the limit on gross receipts under
Subsection (a)(1)(A)(ii) is $5 million. For each subsequent tax
year, the comptroller shall adjust the limit to reflect inflation
by using the index that the comptroller considers to most
accurately report changes in the purchasing power of the dollar for
consumers in this state and shall publicize the adjusted limit.
Each collector shall use the adjusted limit as calculated by the
comptroller under this subsection to determine whether property is
owned or leased by a business entity described by Subsection
(a)(1)(A)(ii).
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.
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