Texas Senate Bill SJR64

Texas 2019 - 86th Regular

Caption

Proposing a constitutional amendment authorizing the legislature to provide for an exemption from ad valorem taxation of certain property owned by or leased to or by a university research technology corporation.

Impact

If enacted, SJR64 would have direct implications on state laws regarding property taxation, particularly for properties managed by university research technology corporations and nonprofit medical centers associated with higher education institutions. The legislation would potentially increase the resources these entities have for research and development by decreasing their tax burden, ultimately aiming to foster a more robust research environment within the state.

Summary

SJR64 is a joint resolution proposing an amendment to the Texas Constitution allowing the legislature to exempt certain properties from ad valorem taxation when owned by or leased to a university research technology corporation. This bill aims to promote the development and commercialization of technologies associated with public or private institutions of higher education in Texas, thereby encouraging innovation and research activities that can benefit the state economically and socially.

Contention

Potential points of contention include discussions around the fairness of providing tax exemptions to specific entities, as some may argue that this could lead to reduced revenue for local governments that rely on property taxes. Advocates of the bill may argue that the long-term economic benefits of fostering innovation and supporting higher education institutions outweigh the immediate tax losses, while critics may call for broader considerations regarding equity in taxation and the distribution of public resources.