| Old | New | Differences | |
|---|---|---|---|
| 1 | 1 | 85R2468 TJB-D | |
| 2 | 2 | By: Button H.B. No. 1182 | |
| 3 | 3 | ||
| 4 | 4 | ||
| 5 | 5 | A BILL TO BE ENTITLED | |
| 6 | 6 | AN ACT | |
| 7 | 7 | relating to the exemption from ad valorem taxation of tangible | |
| 8 | 8 | personal property consisting of certain food products held by the | |
| 9 | 9 | owner of the property for sale at retail. | |
| 10 | 10 | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | |
| 11 | 11 | SECTION 1. Subchapter B, Chapter 11, Tax Code, is amended by | |
| 12 | 12 | adding Section 11.35 to read as follows: | |
| 13 | 13 | Sec. 11.35. FOOD PRODUCTS HELD FOR SALE AT RETAIL. The | |
| 14 | 14 | owner of tangible personal property consisting of food products | |
| 15 | 15 | exempted from the sales and use tax under Section 151.314(a) is | |
| 16 | 16 | entitled to an exemption from ad valorem taxation of the appraised | |
| 17 | 17 | value of the property if the property is held by the owner for sale | |
| 18 | 18 | at retail. | |
| 19 | 19 | SECTION 2. This Act applies only to ad valorem taxes imposed | |
| 20 | 20 | for a tax year beginning on or after the effective date of this Act. | |
| 21 | 21 | SECTION 3. This Act takes effect January 1, 2018, but only | |
| 22 | 22 | if the constitutional amendment proposed by the 85th Legislature, | |
| 23 | 23 | Regular Session, 2017, authorizing the legislature to exempt from | |
| 24 | 24 | ad valorem taxation tangible personal property consisting of food | |
| 25 | 25 | or food products held by the owner of the property for sale at | |
| 26 | 26 | retail is approved by the voters. If that amendment is not approved | |
| 27 | 27 | by the voters, this Act has no effect. |