SJR81 - Proposing a constitutional amendment to authorize the legislature to exempt from ad valorem taxation a portion of the market value of tangible personal property a person owns that is held or used for the production of income.

      By: Bettencourt, Creighton S.J.R. No. 81       SENATE JOINT RESOLUTION         proposing a constitutional amendment to authorize the legislature   to exempt from ad valorem taxation a portion of the market value of   tangible personal property a person owns that is held or used for   the production of income.          BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:          SECTION 1.  Section 1(g), Article VIII, Texas Constitution,   is amended to read as follows:          (g)  The Legislature by general law may exempt from ad   valorem taxation $25,000 of the market value of tangible personal   property a person owns that is held or used for the production of   income [ and has a taxable value of less than the minimum amount   sufficient to recover the costs of the administration of the taxes   on the property, as determined by or under the general law granting   the exemption ].          SECTION 2.  This proposed constitutional amendment shall be   submitted to the voters at an election to be held November 4, 2025.   The ballot shall be printed to permit voting for or against the   proposition:  "The constitutional amendment to authorize the   legislature to exempt from ad valorem taxation a portion of the   market value of tangible personal property a person owns that is   held or used for the production of income."