Texas 2015 - 84th Regular

Texas House Bill HJR64 Compare Versions

Version 1 (Old)

Version 2 (New)

Old	New		Differences
1	1		84R18128 TJB-D
2	2		By: Elkins H.J.R. No. 64
3		-	Substitute the following for H.J.R. No. 64:
4		-	By: Elkins C.S.H.J.R. No. 64
5	3
6	4
7	5		A JOINT RESOLUTION
8		-	proposing a constitutional amendment authorizing the legislature
	6	+	prop
	7	+	osing a constitutional amendment authorizing the legislature
9	8		to provide for an exemption from ad valorem taxation of certain
10	9		property owned by or leased to or by a university research
11	10		technology corporation.
12	11		BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
13	12		SECTION 1. Article VIII, Texas Constitution, is amended by
14	13		adding Section 1-p to read as follows:
15	14		Sec. 1-p. (a) In this section, "university research
16	15		technology corporation" means a special-purpose corporation
17	16		created to develop and commercialize technologies that are owned
18	17		wholly or partly by a public or private institution of higher
19	18		education in this state or by a nonprofit medical center
20	19		development corporation with members that are institutions of
21	20		higher education in this state.
22	21		(b) The legislature by general law may exempt from ad
23	22		valorem taxation:
24	23		(1) the ownership interest of a university research
25	24		technology corporation in real and tangible personal property;
26	25		(2) the ownership interest of a nonprofit medical
27	26		center development corporation in real and tangible personal
28	27		property leased to or used or occupied primarily by a university
29	28		research technology corporation; or
30	29		(3) the leasehold interest of a university research
31	30		technology corporation in real and tangible personal property
32	31		leased from a nonprofit medical center development corporation.
33	32		(c) The legislature may impose eligibility requirements for
34	33		an exemption authorized by this section.
35	34		SECTION 2. This proposed constitutional amendment shall be
36	35		submitted to the voters at an election to be held November 3, 2015.
37	36		The ballot shall be printed to permit voting for or against the
38	37		proposition: "The constitutional amendment authorizing the
39	38		legislature to provide for an exemption from ad valorem taxation of
40	39		certain property owned by or leased to or by a university research
41	40		technology corporation."