The meeting of the committee on ways and means centered on several significant bills aimed at addressing property tax issues, particularly regarding agricultural and border security infrastructure. A committee substitute for HB247 was discussed, emphasizing a voluntary approach with private landowners in light of enhanced border security measures, which reassured many stakeholders previously hesitant about such initiatives. Notably, the bill provides tax exemptions for landowners who allow construction of border security infrastructure, effectively alleviating concerns about increased property values leading to higher taxes. Committee members expressed support for transparency and fairness in how these laws impact stakeholders, especially those along the Texas-Mexico border.
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.
Relating to an exemption from ad valorem taxation of the amount of the appraised value of real property located in certain counties that arises from the installation or construction on the property of border security infrastructure and related improvements and to the consideration of the price paid by certain governmental entities for a parcel of or easement in real property purchased for the purpose of installing or constructing such infrastructure when appraising other real property.
Proposing a constitutional amendment to authorize the legislature to provide for an exemption from ad valorem taxation of the amount of the market value of real property located in a county that borders the United Mexican States that arises from the installation or construction on the property of border security infrastructure and related improvements.
Proposing a constitutional amendment prohibiting the imposition of a tax on the realized or unrealized capital gains of an individual, family, estate, or trust.
Proposing a constitutional amendment prohibiting the enactment of a law imposing an occupation tax on certain entities that enter into transactions conveying securities or imposing a tax on certain securities transactions.
Proposing a constitutional amendment prohibiting the legislature from imposing death taxes applicable to a decedent's property or the transfer of an estate, inheritance, legacy, succession, or gift.