H.B. No. 826
relating to the definitions of certain terms for purposes of the ad
valorem taxation of certain dealer’s heavy equipment inventory.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Sections 23.1241(a)(1) and (2), Tax Code, are
amended to read as follows:
(1) “Dealer” means a person engaged in the business in
this state of selling, leasing, or renting heavy equipment. The
term does not include a bank, savings bank, savings and loan
association, credit union, or other finance company. In addition,
for purposes of taxation of a person’s inventory of heavy equipment
in a tax year, the term does not include a person who renders the
person’s inventory of heavy equipment for taxation in that tax year
by filing a rendition statement or property report in accordance
with Chapter 22.
(2) “Dealer’s heavy equipment inventory” means all
items of heavy equipment that a dealer holds for sale, lease, or
rent in this state during a 12-month period.
SECTION 2. The only purposes of this Act are to exclude
certain financial institutions and other finance companies, as well
as persons who render their inventory of heavy equipment for
taxation in accordance with Chapter 22, Tax Code, from being
required to comply with the requirements of Sections 23.1241,
23.1242, and 23.1243, Tax Code, as amended or added by Chapter 322
(H.B. 2476), Acts of the 82nd Legislature, Regular Session, 2011,
and to limit the definition of a dealer’s heavy equipment inventory
for purposes of those sections of the Tax Code to items of heavy
equipment held for sale, lease, or rent in this state. This Act is
not intended to affect any litigation pending on the effective date
of this Act or filed on or after the effective date of this Act that
arises out of the changes in law made by Chapter 322 (H.B. 2476),
Acts of the 82nd Legislature, Regular Session, 2011.
SECTION 3. This Act applies only to ad valorem taxes imposed
for a tax year beginning on or after the effective date of this Act.
SECTION 4. This Act takes effect January 1, 2014.
President of the Senate Speaker of the House
I certify that H.B. No. 826 was passed by the House on May 2,
2013, by the following vote: Yeas 147, Nays 0, 2 present, not
voting; and that the House concurred in Senate amendments to H.B.
No. 826 on May 23, 2013, by the following vote: Yeas 145, Nays 0, 2
present, not voting.
Chief Clerk of the House
I certify that H.B. No. 826 was passed by the Senate, with
amendments, on May 22, 2013, by the following vote: Yeas 30, Nays
Secretary of the Senate