HBA-RBT, RAR H.B. 453 76(R)    BILL ANALYSIS


Office of House Bill AnalysisH.B. 453
By: Gutierrez
Ways & Means
3/19/1999
Introduced



BACKGROUND AND PURPOSE 

Currently, the tax code allows for the discounting of taxes on residential
property that is held for sale as long as it goes unoccupied.  H.B. 453
affords the owners of commercial property the same tax benefit.    

RULEMAKING AUTHORITY

It is the opinion of the Office of House Bill Analysis that this bill does
not expressly delegate any additional rulemaking authority to a state
officer, department, agency, or institution. 

SECTION BY SECTION ANALYSIS

SECTION 1.  Amends Section 23.12(a), Tax Code, to include in an inventory
for purposes of ad valorem taxation, real property that has been
substantially developed or improved for industrial or commercial use, other
than agricultural use; was vacant during the development or improvement and
remains vacant; has been publicly offered for sale in the ordinary course
or the owner's business and is available for purchase or is under contract
for purchase; and is not leased or rented and does not produce income. 

SECTION 2.  Effective date: January 1, 2000.
                        Provides that this Act applies only to ad valorem
taxes imposed on or after that date. 

SECTION 3.  Emergency clause.