83R9732 TJB-D
By: Morrison H.B. No. 3108
A BILL TO BE ENTITLED
AN ACT
relating to the exemption from ad valorem taxation of oil, natural
gas, and other petroleum products held temporarily in this state
for certain purposes.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Sections 11.253(a)(2), (4), (5), and (6), Tax
Code, are amended to read as follows:
(2) "Goods-in-transit" means tangible personal
property that:
(A) is acquired in or imported into this state to
be forwarded to another location in this state or outside this
state;
(B) is stored under a contract of bailment by a
public warehouse operator at one or more public warehouse
facilities in this state that are not in any way owned or controlled
by the owner of the personal property for the account of the person
who acquired or imported the property;
(C) is transported to another location in this
state or outside this state not later than 175 days after the date
the person acquired the property in or imported the property into
this state; and
(D) does not include [oil, natural gas, petroleum
products,] aircraft, dealer's motor vehicle inventory, dealer's
vessel and outboard motor inventory, dealer's heavy equipment
inventory, or retail manufactured housing inventory.
(4) ["Petroleum product" means a liquid or gaseous
material that is an immediate derivative of the refining of oil or
natural gas.
[(5)] "Bailee" and "warehouse" have the meanings
assigned by Section 7.102, Business & Commerce Code.
(5) [(6)] "Public warehouse operator" means a person
that:
(A) is both a bailee and a warehouse; and
(B) stores under a contract of bailment, at one
or more public warehouse facilities, tangible personal property
that is owned by other persons solely for the account of those
persons and not for the operator's account.
SECTION 2. This Act applies only to ad valorem taxes imposed
for a tax year beginning on or after the effective date of this Act.
SECTION 3. This Act takes effect January 1, 2014, but only
if the constitutional amendment proposed by the 83rd Legislature,
Regular Session, 2013, to provide oil, natural gas, and other
petroleum products held temporarily in this state the same ad
valorem tax-exempt status as is currently provided to other
tangible personal property is approved by the voters. If that
amendment is not approved by the voters, this Act has no effect.