Exempts tangible personal property from ad valorem taxation in Texas.

This bill relates to the exemption of tangible personal property from ad valorem taxation in Texas. It makes conforming changes to various sections of the Tax Code, including the definition of tangible personal property, the process for applying for and maintaining exemptions, and the conditions under which certain properties may be exempted. The bill also repeals certain provisions and amends others to reflect the changes in taxation policy. The changes will take effect on January 1, 2026, contingent on voter approval of a constitutional amendment.

Exempts tangible personal property from ad valorem taxation in Texas.

This bill relates to the exemption of tangible personal property from ad valorem taxation in Texas. It makes conforming changes to various sections of the Tax Code, including the definition of tangible personal property, the process for applying for and maintaining exemptions, and the conditions under which certain properties may be exempted. The bill also repeals certain provisions and amends others to reflect the changes in taxation policy. The changes will take effect on January 1, 2026, contingent on voter approval of a constitutional amendment.