85S11165 SMT-D
By: Burkett H.J.R. No. 48
A JOINT RESOLUTION
proposing a constitutional amendment authorizing the legislature
to exempt from ad valorem taxation income-producing tangible
personal property owned by certain small businesses.
BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 1, Article VIII, Texas Constitution, is
amended by adding Subsection (m) to read as follows:
(m) The legislature by general law may exempt from ad
valorem taxation tangible personal property that is owned by a
small business and that is held or used for the production of
income. The legislature by general law may define "small business"
for purposes of this subsection.
SECTION 2. This proposed constitutional amendment shall be
submitted to the voters at an election to be held November 7, 2017.
The ballot shall be printed to provide for voting for or against the
proposition: "The constitutional amendment authorizing the
legislature to exempt from ad valorem taxation income-producing
tangible personal property owned by certain small businesses."