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Bill > HB4901
TX HB4901
TX HB4901Relating to the exemption from ad valorem taxation of certain tangible personal property held by a manufacturer of medical or biomedical products as a finished good or used in the manufacturing or processing of medical or biomedical products.
summary
Introduced
03/10/2023
03/10/2023
In Committee
03/23/2023
03/23/2023
Crossed Over
Passed
Dead
05/29/2023
05/29/2023
Introduced Session
88th Legislature Regular Session
Bill Summary
Relating to the exemption from ad valorem taxation of certain tangible personal property held by a manufacturer of medical or biomedical products as a finished good or used in the manufacturing or processing of medical or biomedical products.
AI Summary
This bill creates a new property tax exemption for tangible personal property owned or leased by manufacturers of medical or biomedical products and used in the manufacturing or processing of such products. The exemption applies to finished goods, raw materials, and other property used in the production of medical or biomedical goods. The bill also specifies that the governing body of a taxing unit cannot tax any property exempted under this new exemption. The exemption will only take effect if a related constitutional amendment is approved by Texas voters in 2023.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Left pending in committee (on 04/17/2023)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://capitol.texas.gov/BillLookup/History.aspx?LegSess=88R&Bill=HB4901 |
| Fiscal Note (Introduced) | https://capitol.texas.gov/tlodocs/88R/fiscalnotes/html/HB04901I.htm |
| BillText | https://capitol.texas.gov/tlodocs/88R/billtext/html/HB04901I.htm |
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