83R18584 SMH-F
By: Harless H.B. No. 826
A BILL TO BE ENTITLED
AN ACT
relating to the definitions of certain terms for purposes of the ad
valorem taxation of certain dealer's heavy equipment inventory.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Sections 23.1241(a)(1) and (2), Tax Code, are
amended to read as follows:
(1) "Dealer" means a person engaged in the business in
this state of selling, leasing, or renting heavy equipment. The
term does not include a bank, savings bank, savings and loan
association, credit union, or other finance company. In addition,
for purposes of taxation of a person's inventory of heavy equipment
in a tax year, the term does not include a person who renders the
person's inventory of heavy equipment for taxation in that tax year
by filing a rendition statement or property report in accordance
with Chapter 22.
(2) "Dealer's heavy equipment inventory" means all
items of heavy equipment that a dealer holds for sale, lease, or
rent in this state during a 12-month period.
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.