| Old | New | Differences | |
|---|---|---|---|
| 1 | 1 | 88R10658 TJB-D | |
| 2 | 2 | By: Harrison H.J.R. No. 136 | |
| 3 | 3 | ||
| 4 | 4 | ||
| 5 | 5 | A JOINT RESOLUTION | |
| 6 | 6 | proposing a constitutional amendment to authorize the legislature | |
| 7 | 7 | to exempt from ad valorem taxation a portion of the market value of | |
| 8 | 8 | tangible personal property a person owns that is held or used for | |
| 9 | 9 | the production of income. | |
| 10 | 10 | BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: | |
| 11 | 11 | SECTION 1. Section 1(g), Article VIII, Texas Constitution, | |
| 12 | 12 | is amended to read as follows: | |
| 13 | 13 | (g) The Legislature by general law may exempt from ad | |
| 14 | 14 | valorem taxation an amount not to exceed $2,500 of the market value | |
| 15 | 15 | of tangible personal property a person owns that is held or used for | |
| 16 | 16 | the production of income [and has a taxable value of less than the | |
| 17 | 17 | minimum amount sufficient to recover the costs of the | |
| 18 | 18 | administration of the taxes on the property, as determined by or | |
| 19 | 19 | under the general law granting the exemption]. | |
| 20 | 20 | SECTION 2. This proposed constitutional amendment shall be | |
| 21 | 21 | submitted to the voters at an election to be held November 7, 2023. | |
| 22 | 22 | The ballot shall be printed to permit voting for or against the | |
| 23 | 23 | proposition: "The constitutional amendment to authorize the | |
| 24 | 24 | legislature to exempt from ad valorem taxation a portion of the | |
| 25 | 25 | market value of tangible personal property a person owns that is | |
| 26 | 26 | held or used for the production of income." |