88R11319 TJB-D
By: Springer S.J.R. No. 46
A JOINT RESOLUTION
proposing a constitutional amendment authorizing the legislature
to exempt from ad valorem taxation a person's inventory.
BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 1, Article VIII, Texas Constitution, is
amended by amending Subsection (d) and adding Subsection (g-1) to
read as follows:
(d) The Legislature by general law shall exempt from ad
valorem taxation household goods not held or used for the
production of income and personal effects not held or used for the
production of income. The Legislature by general law may exempt
from ad valorem taxation:
(1) all or part of the personal property homestead of a
family or single adult, "personal property homestead" meaning that
personal property exempt by law from forced sale for debt;
(2) subject to Subsections (e), [and] (g), and (g-1)
of this section, all other tangible personal property, except
structures which are substantially affixed to real estate and are
used or occupied as residential dwellings and except property held
or used for the production of income;
(3) subject to Subsection (e) of this section, a
leased motor vehicle that is not held primarily for the production
of income by the lessee and that otherwise qualifies under general
law for exemption; and
(4) one motor vehicle, as defined by general law,
owned by an individual that is used in the course of the
individual's occupation or profession and is also used for personal
activities of the owner that do not involve the production of
income.
(g-1) The Legislature by general law may exempt from ad
valorem taxation a person's inventory, as defined by general law.
SECTION 2. This proposed constitutional amendment shall be
submitted to the voters at an election to be held November 7, 2023.
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 a person's
inventory."