87R5794 SMT-D
By: Shine H.J.R. No. 53
A JOINT RESOLUTION
proposing a constitutional amendment authorizing the legislature
to exempt from ad valorem taxation a portion of the value of a
person's income-producing tangible personal property if the
property has a value within a specified range of values.
BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 1, Article VIII, Texas Constitution, is
amended by adding Subsection (n) to read as follows:
(n) The legislature by general law may exempt from ad
valorem taxation 20 percent of the taxable value of a person's
tangible personal property that is held or used for the production
of income if the property is listed in a single account maintained
by the appraisal entity that appraises the property and the total
taxable value of all property listed in the account is $5,000 or
more and less than $500,000. A person may receive more than one
exemption authorized by this subsection.
SECTION 2. This proposed constitutional amendment shall be
submitted to the voters at an election to be held November 2, 2021.
The ballot shall be printed to permit voting for or against the
proposition: "The constitutional amendment authorizing the
legislature to exempt from ad valorem taxation 20 percent of the
value of a person's income-producing tangible personal property if
the property has a value of $5,000 or more and less than $500,000."