2011S0700-1 03/11/11
By: Hilderbran H.B. No. 3727
A BILL TO BE ENTITLED
AN ACT
relating to the computation of the property tax on temporary
production aircraft.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Subchapter B, Chapter 23, Tax Code, is amended by
adding Section 23.1211 to read as follows:
Sec. 23.1211. TEMPORARY PRODUCTION AIRCRAFT; VALUE.
(a) In this section:
(1) "Temporary production aircraft" means an aircraft
as defined by 49 C.F.R. Section 1511.3, in the transport category:
(A) that is temporarily held in the state;
(B) for which a Federal Aviation Administration
special airworthiness certificate has been issued;
(C) that is operated under a Federal Aviation
Administration special flight permit; and
(D) that has maximum takeoff weight of at least
145,000 pounds.
(2) "Maximum takeoff weight" means the maximum takeoff
weight listed in the aircraft's Type Certificate Data Sheet (TCDS)
for the lowest rated configuration or, if the aircraft does not yet
have a TCDS, the maximum takeoff weight target published by the
manufacturer.
(3) "List price" means the price listed in the most
recently published edition of the International Bureau of Aviation
Aircraft Values Book.
(b) For the purpose of the computation of property tax on
temporary production aircraft, the chief appraiser shall determine
an aircraft's market value on January 1 to be 10 percent of the
published list price of the aircraft.
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, 2011.