Texas 2021 - 87th Regular

Texas Senate Bill SB1449 Compare Versions

Version 1 (Old)

Version 2 (New)

Old	New		Differences
1		-	S.B. No. 1449
	1	+	By: Bettencourt, et al. S.B. No. 1449
	2	+	(Murphy)
2	3
3	4
	5	+	A BILL TO BE ENTITLED
4	6		AN ACT
5	7		relating to the exemption from ad valorem taxation of
6	8		income-producing tangible personal property having a value of less
7	9		than a certain amount.
8	10		BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
9	11		SECTION 1. The heading to Section 11.145, Tax Code, is
10	12		amended to read as follows:
11	13		Sec. 11.145. INCOME-PRODUCING TANGIBLE PERSONAL PROPERTY
12	14		HAVING VALUE OF LESS THAN $2,500 [$500].
13	15		SECTION 2. Section 11.145(a), Tax Code, is amended to read
14	16		as follows:
15	17		(a) A person is entitled to an exemption from taxation of
16	18		the tangible personal property the person owns that is held or used
17	19		for the production of income if that property has a taxable value of
18	20		less than $2,500 [$500].
19	21		SECTION 3. This Act applies only to ad valorem taxes imposed
20	22		for a tax year that begins on or after the effective date of this
21	23		Act.
22	24		SECTION 4. This Act takes effect January 1, 2022.
23		-	______________________________ ______________________________
24		-	President of the Senate Speaker of the House
25		-	I hereby certify that S.B. No. 1449 passed the Senate on
26		-	April 22, 2021, by the following vote: Yeas 31, Nays 0.
27		-	______________________________
28		-	Secretary of the Senate
29		-	I hereby certify that S.B. No. 1449 passed the House on
30		-	May 20, 2021, by the following vote: Yeas 144, Nays 1, one present
31		-	not voting.
32		-	______________________________
33		-	Chief Clerk of the House
34		-	Approved:
35		-	______________________________
36		-	Date
37		-	______________________________
38		-	Governor