TX HB9

Establishes a $125,000 exemption from ad valorem (property) taxation on tangible personal property held or used for income production at each location within a taxing unit

Creates separate exemption rules for leased property, allowing a single $125,000 exemption per taxing unit for all leased tangible personal property regardless of location

Requires "related business entities" operating as a "unified business enterprise" at the same physical address to aggregate their property values when calculating the exemption, preventing multiple exemptions for affiliated businesses

Eliminates the previous requirement to render (report) property for taxation if the owner reasonably believes the property value does not exceed $125,000, though owners must file a certification and chief appraisers can still require rendering

Takes effect January 1, 2026, contingent upon voter approval of a constitutional amendment proposed by the 89th Legislature authorizing this exemption