| 1 | 1 | | 84R1401 GRM-D |
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| 2 | 2 | | By: Goldman, Cyrier H.B. No. 128 |
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| 3 | 3 | | |
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| 4 | 4 | | |
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| 5 | 5 | | A BILL TO BE ENTITLED |
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| 6 | 6 | | AN ACT |
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| 7 | 7 | | relating to the exemption from ad valorem taxation of mineral |
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| 8 | 8 | | interests having a value of less than a certain amount. |
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| 9 | 9 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 10 | 10 | | SECTION 1. The heading to Section 11.146, Tax Code, is |
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| 11 | 11 | | amended to read as follows: |
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| 12 | 12 | | Sec. 11.146. MINERAL INTEREST HAVING VALUE OF LESS THAN |
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| 13 | 13 | | $2,000 [$500]. |
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| 14 | 14 | | SECTION 2. Section 11.146(a), Tax Code, is amended to read |
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| 15 | 15 | | as follows: |
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| 16 | 16 | | (a) A person is entitled to an exemption from taxation of a |
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| 17 | 17 | | mineral interest the person owns if the interest has a taxable value |
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| 18 | 18 | | of less than $2,000 [$500]. |
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| 19 | 19 | | SECTION 3. This Act applies only to a tax year beginning on |
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| 20 | 20 | | or after the effective date of this Act. |
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| 21 | 21 | | SECTION 4. This Act takes effect January 1, 2016. |
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