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A JOINT RESOLUTION
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proposing a constitutional amendment authorizing the legislature |
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to exempt from ad valorem taxation income-producing tangible |
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personal property owned by certain small businesses. |
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BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 1, Article VIII, Texas Constitution, is |
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amended by adding Subsection (m) to read as follows: |
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(m) The legislature by general law may exempt from ad |
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valorem taxation tangible personal property that is owned by a |
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small business and that is held or used for the production of |
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income. The legislature by general law may define "small business" |
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for purposes of this subsection. |
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SECTION 2. This proposed constitutional amendment shall be |
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submitted to the voters at an election to be held November 7, 2017. |
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The ballot shall be printed to provide for voting for or against the |
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proposition: "The constitutional amendment authorizing the |
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legislature to exempt from ad valorem taxation income-producing |
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tangible personal property owned by certain small businesses." |