BILL ANALYSIS Senate Research Center S.J.R. 87 88R7059 DRS-F By: Huffman Finance 3/16/2023 As Filed AUTHOR'S / SPONSOR'S STATEMENT OF INTENT S.J.R. 87 proposes a constitutional amendment to exempt from ad valorem taxation tangible personal property that is used or produced by medical and biomedical manufacturers, such as medical devices, pharmaceuticals, and PPE. S.J.R. 87 proposes a constitutional amendment to authorize the legislature to exempt from ad valorem taxation certain tangible personal property held by a manufacturer of medical or biomedical products as a finished good or used in the manufacturing or processing of medical or biomedical products. RULEMAKING AUTHORITY This bill does not expressly grant any additional rulemaking authority to a state officer, institution, or agency. SECTION BY SECTION ANALYSIS SECTION 1. Amends Article VIII, Texas Constitution, by adding Section 1-x, as follows: Sec. 1-x. Authorizes the legislature by general law to exempt from ad valorem taxation the tangible personal property held by a manufacturer of medical or biomedical products as a finished good or used in the manufacturing or processing of medical or biomedical products. SECTION 2. Requires that the proposed constitutional amendment be submitted to the voters at an election to be held November 7, 2023. Sets forth the required language of the ballot.
BILL ANALYSIS
Senate Research Center S.J.R. 87
88R7059 DRS-F By: Huffman
Finance
3/16/2023
As Filed
Senate Research Center
S.J.R. 87
88R7059 DRS-F
By: Huffman
Finance
3/16/2023
As Filed
AUTHOR'S / SPONSOR'S STATEMENT OF INTENT
S.J.R. 87 proposes a constitutional amendment to exempt from ad valorem taxation tangible personal property that is used or produced by medical and biomedical manufacturers, such as medical devices, pharmaceuticals, and PPE.
S.J.R. 87 proposes a constitutional amendment to authorize the legislature to exempt from ad valorem taxation certain tangible personal property held by a manufacturer of medical or biomedical products as a finished good or used in the manufacturing or processing of medical or biomedical products.
RULEMAKING AUTHORITY
This bill does not expressly grant any additional rulemaking authority to a state officer, institution, or agency.
SECTION BY SECTION ANALYSIS
SECTION 1. Amends Article VIII, Texas Constitution, by adding Section 1-x, as follows:
Sec. 1-x. Authorizes the legislature by general law to exempt from ad valorem taxation the tangible personal property held by a manufacturer of medical or biomedical products as a finished good or used in the manufacturing or processing of medical or biomedical products.
SECTION 2. Requires that the proposed constitutional amendment be submitted to the voters at an election to be held November 7, 2023. Sets forth the required language of the ballot.