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TX HB399
Bill
Status
11/12/2024
Primary Sponsor
Diego Bernal
Click for details
AI Summary
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Exempts small businesses from ad valorem (property) taxes on income-producing tangible personal property for three years following incorporation under Texas Business Organizations Code
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Applies only to small businesses as defined by Government Code Section 481.401(10) that file a rendition statement under Tax Code Section 22.01
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Takes effect January 1, 2026, contingent upon voter approval of a related constitutional amendment proposed by the 89th Legislature in 2025
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If the constitutional amendment is not approved by voters, the bill has no effect
Legislative Description
Relating to the exemption from ad valorem taxation of income-producing tangible personal property for a certain period of time.
Property Interests
Last Action
Referred to Ways & Means
2/28/2025