Texas 2017 - 85th Regular

Texas House Bill HB1346 Compare Versions

Version 1 (Old)

Version 2 (New)

Old	New		Differences
1		-	85R1239 CJC-D
2		-	By: Button, Bonnen of Brazoria, H.B. No. 1346
3		-	Johnson of Dallas
	1	+	H.B. No. 1346
4	2
5	3
6		-	A BILL TO BE ENTITLED
7	4		AN ACT
8	5		relating to the date for prepayment of taxes on a dealer's heavy
9	6		equipment inventory.
10	7		BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
11	8		SECTION 1. Sections 23.1242(b) and (f), Tax Code, are
12	9		amended to read as follows:
13	10		(b) Except for an item of heavy equipment sold to a dealer,
14	11		an item of heavy equipment included in a fleet transaction, an item
15	12		of heavy equipment that is the subject of a subsequent sale, or an
16	13		item of heavy equipment that is subject to a lease or rental, an
17	14		owner or a person who has agreed by contract to pay the owner's
18	15		current year property taxes levied against the owner's heavy
19	16		equipment inventory shall assign a unit property tax to each item of
20	17		heavy equipment sold from a dealer's heavy equipment inventory. In
21	18		the case of a lease or rental, the owner shall assign a unit
22	19		property tax to each item of heavy equipment leased or rented. The
23	20		unit property tax of each item of heavy equipment is determined by
24	21		multiplying the sales price of the item or the monthly lease or
25	22		rental payment received for the item, as applicable, by the unit
26	23		property tax factor. If the transaction is a lease or rental, the
27	24		owner shall collect the unit property tax from the lessee or renter
28	25		at the time the lessee or renter submits payment for the lease or
29	26		rental. The owner of the equipment shall state the amount of the
30	27		unit property tax assigned as a separate line item on an
31	28		invoice. On or before the 20th [10th] day of each month the owner
32	29		shall, together with the statement filed by the owner as required by
33	30		this section, deposit with the collector an amount equal to the
34	31		total of unit property tax assigned to all items of heavy equipment
35	32		sold, leased, or rented from the dealer's heavy equipment inventory
36	33		in the preceding month to which a unit property tax was
37	34		assigned. The money shall be deposited by the collector to the
38	35		credit of the owner's escrow account for prepayment of property
39	36		taxes as provided by this section. An escrow account required by
40	37		this section is used to pay property taxes levied against the
41	38		dealer's heavy equipment inventory, and the owner shall fund the
42	39		escrow account as provided by this subsection.
43	40		(f) On or before the 20th [10th] day of each month, a dealer
44	41		shall file with the collector the statement covering the sale,
45	42		lease, or rental of each item of heavy equipment sold, leased, or
46	43		rented by the dealer in the preceding month. On or before the 20th
47	44		[10th] day of a month following a month in which a dealer does not
48	45		sell, lease, or rent an item of heavy equipment, the dealer must
49	46		file the statement with the collector and indicate that no sales,
50	47		leases, or rentals were made in the prior month. A dealer shall
51	48		file a copy of the statement with the chief appraiser and retain
52	49		documentation relating to the disposition of each item of heavy
53	50		equipment sold and the lease or rental of each item of heavy
54	51		equipment. A chief appraiser or collector may examine documents
55	52		held by a dealer as provided by this subsection in the same manner,
56	53		and subject to the same conditions, as provided by Section
57	54		23.1241(g).
58	55		SECTION 2. The change in law made by this Act applies to a
59	56		dealer's heavy equipment inventory tax statement required to be
60	57		filed on or after the effective date of this Act. A dealer's heavy
61	58		equipment inventory tax statement required to be filed before the
62	59		effective date of this Act is governed by the law in effect on the
63	60		date the statement was required to be filed, and the former law is
64	61		continued in effect for that purpose.
65	62		SECTION 3. This Act takes effect September 1, 2017.
	63	+	______________________________ ______________________________
	64	+	President of the Senate Speaker of the House
	65	+	I certify that H.B. No. 1346 was passed by the House on April
	66	+	13, 2017, by the following vote: Yeas 138, Nays 0, 3 present, not
	67	+	voting.
	68	+	______________________________
	69	+	Chief Clerk of the House
	70	+	I certify that H.B. No. 1346 was passed by the Senate on May
	71	+	11, 2017, by the following vote: Yeas 31, Nays 0.
	72	+	______________________________
	73	+	Secretary of the Senate
	74	+	APPROVED: _____________________
	75	+	Date
	76	+	_____________________
	77	+	Governor