Plain English summary not yet available
The full original text is available below. Check back soon as we process this bill.
      H.B. No. 22         AN ACT   relating to the exemption from ad valorem taxation of intangible   personal property.          BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:          SECTION 1.  Section 11.02(a), Tax Code, is amended to read as   follows:          (a)   Intangible [ Except as provided by Subsection (b) of this   section, intangible ] personal property is not taxable.          SECTION 2.  Section 42.05, Tax Code, is amended to read as   follows:          Sec. 42.05.  COMPTROLLER AS PARTY. The comptroller is an   opposing party in an appeal by[ :                [ (1)     a property owner of an order of the comptroller   determining a protest of the appraisal, interstate allocation, or   intrastate apportionment of transportation business intangibles;   or                [ (2) ]  a county or a property owner of an order of the   comptroller apportioning among the counties the appraised value of   railroad rolling stock.          SECTION 3.  The following provisions of the Tax Code are   repealed:                (1)  Sections 11.02(b) and (c);                (2)  Section 21.06;                (3)  Section 21.07;                (4)  Section 21.08;                (5)  Section 23.15; and                (6)  Section 23.16.          SECTION 4.  The changes in law made by this Act apply only to   an ad valorem tax year that begins on or after the effective date of   this Act.          SECTION 5.  This Act takes effect January 1, 2026.       ______________________________ ______________________________      President of the Senate Speaker of the House                   I certify that H.B. No. 22 was passed by the House on April 3,   2025, by the following vote:  Yeas 133, Nays 10, 1 present, not   voting.     ______________________________   Chief Clerk of the House                 I certify that H.B. No. 22 was passed by the Senate on May 9,   2025, by the following vote:  Yeas 30, Nays 1.     ______________________________   Secretary of the Senate       APPROVED:  _____________________                      Date                           _____________________                    Governor