LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 88TH LEGISLATIVE REGULAR SESSION May 3, 2023 TO: Honorable Morgan Meyer, Chair, House Committee on Ways & Means FROM: Jerry McGinty, Director, Legislative Budget Board IN RE: HJR141 by Guillen (proposing a constitutional amendment authorizing the legislature to define certain terms for purposes of the exemption from ad valorem taxation of farm products in the hands of the producer.), Committee Report 1st House, Substituted No fiscal implication to the State is anticipated, other than the cost of publication. The cost to the state for publication of the resolution is $204,406. The resolution would propose an amendment to Article VIII, of the Texas Constitution, to authorize the Legislature to define farm products and in the hands of the producer for purposes of the property tax exemption for farm products. The bill would replace the term members elect with the term members elected.This proposed constitutional amendment would allowbut would not requirethe Legislature to define what items qualify for the tax exemption for farm products (such as livestock, poultry, timber, and supplies used or produced in a farming operation) in the hands of the producer.Any effect of this resolution would depend on future legislation.The proposed amendment would be submitted to voters at an election to be held November 7, 2023. Local Government ImpactNo fiscal implication to units of local government is anticipated. Source Agencies: b > td > 304 Comptroller of Public Accounts LBB Staff: b > td > JMc, KK, SD, BRI
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 88TH LEGISLATIVE REGULAR SESSION
May 3, 2023
TO: Honorable Morgan Meyer, Chair, House Committee on Ways & Means FROM: Jerry McGinty, Director, Legislative Budget Board IN RE: HJR141 by Guillen (proposing a constitutional amendment authorizing the legislature to define certain terms for purposes of the exemption from ad valorem taxation of farm products in the hands of the producer.), Committee Report 1st House, Substituted
TO: Honorable Morgan Meyer, Chair, House Committee on Ways & Means
FROM: Jerry McGinty, Director, Legislative Budget Board
IN RE: HJR141 by Guillen (proposing a constitutional amendment authorizing the legislature to define certain terms for purposes of the exemption from ad valorem taxation of farm products in the hands of the producer.), Committee Report 1st House, Substituted
Honorable Morgan Meyer, Chair, House Committee on Ways & Means
Honorable Morgan Meyer, Chair, House Committee on Ways & Means
Jerry McGinty, Director, Legislative Budget Board
Jerry McGinty, Director, Legislative Budget Board
HJR141 by Guillen (proposing a constitutional amendment authorizing the legislature to define certain terms for purposes of the exemption from ad valorem taxation of farm products in the hands of the producer.), Committee Report 1st House, Substituted
HJR141 by Guillen (proposing a constitutional amendment authorizing the legislature to define certain terms for purposes of the exemption from ad valorem taxation of farm products in the hands of the producer.), Committee Report 1st House, Substituted
No fiscal implication to the State is anticipated, other than the cost of publication. The cost to the state for publication of the resolution is $204,406.
No fiscal implication to the State is anticipated, other than the cost of publication. The cost to the state for publication of the resolution is $204,406.
The resolution would propose an amendment to Article VIII, of the Texas Constitution, to authorize the Legislature to define farm products and in the hands of the producer for purposes of the property tax exemption for farm products. The bill would replace the term members elect with the term members elected.This proposed constitutional amendment would allowbut would not requirethe Legislature to define what items qualify for the tax exemption for farm products (such as livestock, poultry, timber, and supplies used or produced in a farming operation) in the hands of the producer.Any effect of this resolution would depend on future legislation.The proposed amendment would be submitted to voters at an election to be held November 7, 2023.
Local Government Impact
No fiscal implication to units of local government is anticipated.
Source Agencies: b > td > 304 Comptroller of Public Accounts
304 Comptroller of Public Accounts
LBB Staff: b > td > JMc, KK, SD, BRI
JMc, KK, SD, BRI