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Proposing a constitutional amendment relating to the authorization
to exempt from ad valorem taxation precious metals.
No fiscal implication to the State is anticipated, other than the cost of publication. Any
additional fiscal implication would be attributable to the corresponding enabling legislation.
The cost to the state for publication of the resolution is $177,289.
HJR 95 proposes to amend Article VIII of the Texas Constitution to allow the Legislature to exempt precious metals held for income-producing purposes from property taxation if they are stored in a qualifying precious metal depository in this state.
Texas Action opposes HJR 95 for violating the principles of limited government and free markets. Tax policy should not be used to incentivize particular economic behavior; in this case storing precious metals held for income-producing purposes in a qualifying precious metal depository in this state.