Bill

SB 1006

86(R) - 2019
Senate Property Tax
House Ways & Means
Senate Property Tax
House Ways & Means

Vote Recommendation

Yes
  • Neutral
  • Positive
  • Neutral
  • Neutral
  • Neutral

Author(s)

Paul Bettencourt
Brandon Creighton
Kelly Hancock
Angela Paxton

Co-Author(s)

Juan "Chuy" Hinojosa

Bill Caption

Relating to the exemption from ad valorem taxation of income-producing tangible personal property having a value of less than a certain amount.

Fiscal Notes

Estimated Two-year Net Impact to General Revenue Related Funds for SB1006, As Introduced: a positive impact of $64,000 through the biennium ending August 31, 2021.

Additionally, there would be a negative impact of ($5,250,000) through the biennium ending August 31, 2023.

The bill would make no appropriation but could provide the legal basis for an appropriation of funds to implement the provisions of the bill. 

Bill Analysis

SB 1006 would raise the exemption from ad valorem property taxation, from $500 to $2500, for income producing property. 

Vote Recommendation Notes

Texas Action supports SB 1006 because it promotes limited government. This bill would increase the minimum amount of tangible personal property that is exempt from rendition and assessment for property taxes, and effectively help small businesses which are disproportionately affected by the Texas Business Personal Property tax.