Proposes a constitutional amendment to exempt tangible personal property from ad valorem taxation in Texas.

This bill proposes a constitutional amendment to exempt all tangible personal property from ad valorem taxation in Texas. It amends the Texas Constitution to exempt tangible personal property, except if it was pledged for debt payment before January 1, 2026. The amendment takes effect January 1, 2026, and applies to taxes imposed after that date. A temporary provision allows continued taxation of certain tangible personal property until the debt is discharged. The amendment will be submitted to voters in the November 4, 2025 election.

Proposes a constitutional amendment to exempt tangible personal property from ad valorem taxation in Texas.

This bill proposes a constitutional amendment to exempt all tangible personal property from ad valorem taxation in Texas. It amends the Texas Constitution to exempt tangible personal property, except if it was pledged for debt payment before January 1, 2026. The amendment takes effect January 1, 2026, and applies to taxes imposed after that date. A temporary provision allows continued taxation of certain tangible personal property until the debt is discharged. The amendment will be submitted to voters in the November 4, 2025 election.