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      H.J.R. No. 1       A JOINT RESOLUTION   proposing a constitutional amendment to authorize the legislature   to exempt from ad valorem taxation a portion of the market value of   tangible personal property a person owns that is held or used for   the production of income.          BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:          SECTION 1.  Section 1(g), Article VIII, Texas Constitution,   is amended to read as follows:          (g)  The Legislature by general law may exempt from ad   valorem taxation $125,000 of the market value of tangible personal   property that is held or used for the production of income [ and has   a taxable value of less than the minimum amount sufficient to   recover the costs of the administration of the taxes on the   property, as determined by or under the general law granting the   exemption ].          SECTION 2.  This proposed constitutional amendment shall be   submitted to the voters at an election to be held November 4, 2025.   The ballot shall be printed to permit voting for or against the   proposition:  "The constitutional amendment to authorize the   legislature to exempt from ad valorem taxation a portion of the   market value of tangible personal property a person owns that is   held or used for the production of income."       ______________________________ ______________________________      President of the Senate Speaker of the House                   I certify that H.J.R. No. 1 was passed by the House on April   2, 2025, by the following vote:  Yeas 132, Nays 13, 1 present, not   voting; and that the House concurred in Senate amendments to H.J.R.   No. 1 on May 19, 2025, by the following vote:  Yeas 112, Nays 13, 2   present, not voting.     ______________________________   Chief Clerk of the House               I certify that H.J.R. No. 1 was passed by the Senate, with   amendments, on May 14, 2025, by the following vote:  Yeas 31, Nays   0.     _______________________________   Secretary of the Senate       RECEIVED:  _____________________                      Date                          _____________________               Secretary of State