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<br />3O(R) HB 621 - Enrolled version - Bill Text <br /> <br />I <br /> <br />10f9 <br /> <br />http://www.capitol.state.tx.us/tlodocs/80R/bllltext/htmL ., <br /> <br />H.B. No. 621 <br /> <br />AN ACT <br />relating to the exemption from ad valorem taxation of <br />tangible <br />personal property held temporarily at a location in this <br />state for <br />assembling, storing, manufacturing, processing, or <br />fabricating <br />purposes. <br />BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF <br /> <br />TEXAS: <br /> <br />SECTION 1. Subchapter B, Chapter 11, Tax Code, is <br />amended by <br />adding Section 11.253 to read as follows: <br />Sec. 11.253. TANGIBLE PERSONAL PROPERTY IN TRANSIT. <br /> <br />/ <br /> <br />(a) In <br />this section: <br /> <br />(1) "Dealer's motor vehicle inventory," <br /> <br />"dealer's <br />vessel and outboard motor inventory," "dealer's heavy <br />equipment <br />inventory," and "retail manufactured housing inventory" have <br />the <br />meanings assigned by Subchapter B, Chapter 23. <br />(2) "Goods-in-transit" means tangible personal <br />property that: <br /> <br />(A) is acquired in or imported into this <br /> <br />state to <br />be forwarded to another location in this state or outside <br />this <br />state; <br /> <br />(B) is detained at a location in this <br /> <br />7/3/20079:09 M <br />