Bill > HB22

This bill simplifies and clarifies the taxation of intangible personal property in Texas by making several key changes to the Tax Code. Specifically, the bill removes existing exceptions to the taxation of intangible personal property, essentially establishing a blanket exemption for all intangible personal property from ad valorem (property) taxation. The bill also eliminates several sections of the Tax Code related to the valuation and apportionment of intangible property, including provisions about transportation business intangibles and specific valuation methods. The changes will apply to ad valorem tax years beginning on or after the bill's effective date of January 1, 2026, which means taxpayers will see the impact on their property tax assessments starting in 2026. By removing these detailed provisions, the bill appears to simplify the tax code's treatment of intangible personal property, potentially reducing administrative complexity for tax authorities and providing a clear, straightforward exemption for taxpayers.

Budget and Finance, Government Affairs

https://capitol.texas.gov/BillLookup/History.aspx?LegSess=89R&Bill=HB22