Bill Text: TX HB826 | 2013-2014 | 83rd Legislature | Comm Sub
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Relating to the definitions of certain terms for purposes of the ad valorem taxation of certain dealer's heavy equipment inventory.
Spectrum: Partisan Bill (Republican 2-0)
Status: (Passed) 2013-06-14 - Effective on 1/1/14 [HB826 Detail]
Download: Texas-2013-HB826-Comm_Sub.html
Bill Title: Relating to the definitions of certain terms for purposes of the ad valorem taxation of certain dealer's heavy equipment inventory.
Spectrum: Partisan Bill (Republican 2-0)
Status: (Passed) 2013-06-14 - Effective on 1/1/14 [HB826 Detail]
Download: Texas-2013-HB826-Comm_Sub.html
By: Harless (Senate Sponsor - Eltife) | H.B. No. 826 | |
(In the Senate - Received from the House May 6, 2013; | ||
May 7, 2013, read first time and referred to Committee on Finance; | ||
May 20, 2013, reported adversely, with favorable Committee | ||
Substitute by the following vote: Yeas 12, Nays 2; May 20, 2013, | ||
sent to printer.) | ||
COMMITTEE SUBSTITUTE FOR H.B. No. 826 | By: Huffman |
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relating to the definitions of certain terms for purposes of the ad | ||
valorem taxation of certain dealer's heavy equipment inventory. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Sections 23.1241(a)(1) and (2), Tax Code, are | ||
amended to read as follows: | ||
(1) "Dealer" means a person engaged in the business in | ||
this state of selling, leasing, or renting heavy equipment. The | ||
term does not include a bank, savings bank, savings and loan | ||
association, credit union, or other finance company. In addition, | ||
for purposes of taxation of a person's inventory of heavy equipment | ||
in a tax year, the term does not include a person who renders the | ||
person's inventory of heavy equipment for taxation in that tax year | ||
by filing a rendition statement or property report in accordance | ||
with Chapter 22. | ||
(2) "Dealer's heavy equipment inventory" means all | ||
items of heavy equipment that a dealer holds for sale, lease, or | ||
rent in this state during a 12-month period. | ||
SECTION 2. The only purposes of this Act are to exclude | ||
certain financial institutions and other finance companies, as well | ||
as persons who render their inventory of heavy equipment for | ||
taxation in accordance with Chapter 22, Tax Code, from being | ||
required to comply with the requirements of Sections 23.1241, | ||
23.1242, and 23.1243, Tax Code, as amended or added by Chapter 322 | ||
(H.B. 2476), Acts of the 82nd Legislature, Regular Session, 2011, | ||
and to limit the definition of a dealer's heavy equipment inventory | ||
for purposes of those sections of the Tax Code to items of heavy | ||
equipment held for sale, lease, or rent in this state. This Act is | ||
not intended to affect any litigation pending on the effective date | ||
of this Act or filed on or after the effective date of this Act that | ||
arises out of the changes in law made by Chapter 322 (H.B. 2476), | ||
Acts of the 82nd Legislature, Regular Session, 2011. | ||
SECTION 3. This Act applies only to ad valorem taxes imposed | ||
for a tax year beginning on or after the effective date of this Act. | ||
SECTION 4. This Act takes effect January 1, 2014. | ||
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