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A BILL TO BE ENTITLED
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AN ACT
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relating to the exemption from ad valorem taxation of tangible |
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personal property consisting of certain food products held by the |
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owner of the property for sale at retail. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter B, Chapter 11, Tax Code, is amended by |
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adding Section 11.35 to read as follows: |
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Sec. 11.35. FOOD PRODUCTS HELD FOR SALE AT RETAIL. The |
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owner of tangible personal property consisting of food products |
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exempted from the sales and use tax under Section 151.314(a) is |
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entitled to an exemption from ad valorem taxation of the appraised |
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value of the property if the property is held by the owner for sale |
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at retail. |
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SECTION 2. This Act applies only to ad valorem taxes imposed |
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for a tax year beginning on or after the effective date of this Act. |
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SECTION 3. This Act takes effect January 1, 2018, but only |
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if the constitutional amendment proposed by the 85th Legislature, |
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Regular Session, 2017, authorizing the legislature to exempt from |
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ad valorem taxation tangible personal property consisting of food |
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or food products held by the owner of the property for sale at |
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retail is approved by the voters. If that amendment is not approved |
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by the voters, this Act has no effect. |