85R2468 TJB-D
By: Button H.B. No. 1182
A BILL TO BE ENTITLED
AN ACT
relating to the exemption from ad valorem taxation of tangible
personal property consisting of certain food products held by the
owner of the property for sale at retail.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Subchapter B, Chapter 11, Tax Code, is amended by
adding Section 11.35 to read as follows:
Sec. 11.35. FOOD PRODUCTS HELD FOR SALE AT RETAIL. The
owner of tangible personal property consisting of food products
exempted from the sales and use tax under Section 151.314(a) is
entitled to an exemption from ad valorem taxation of the appraised
value of the property if the property is held by the owner for sale
at retail.
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, 2018, but only
if the constitutional amendment proposed by the 85th Legislature,
Regular Session, 2017, authorizing the legislature to exempt from
ad valorem taxation tangible personal property consisting of food
or food products held by the owner of the property for sale at
retail is approved by the voters. If that amendment is not approved
by the voters, this Act has no effect.