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80CR) HB 621 - Enrolled version - Fiscal Note http://www.capitol.state.tx.us/tlodocs/80R/fisca1notes/ht. . Fiscal Year Probable Net Positive/(Negative) Impact to General Revenue Related Funds 2008 2009 2010 2011 2012 $0 ($25,215,000) ($31,184,000) ($32,429,000) ($33,723,000) All Funds, Five-Year Impact: Fiscal Year P b bl Probable 1'0 a e Revenue Savings/(Cost) from FOUNDATION Gain/(Loss) SCHOOL FUND from 193 School Districts - Initial Impact $0 ($30,221,000) ($31,430,000) ($32,687,000) ($33,994,000) 2008 2009 2010 2011 2012 $0 ($25,215,000) ($31,184,000) ($32,429,000) ($33,723,000) Fiscal Analysis Probable Revenue Gain/(Loss) from Counties $0 ($9,419,000) ($9,796,000) ($10,188,000) ($10,596,000) Probable Revenue Gain/(Loss) from Cities $0 ($6,552,000) ($6,814,000) ($7,087,000) ($7,370,000) The bill would add a new section to Chapter 11 of the Tax Code to provide a new exemption from ad valorem taxation for" goods in transit." To qualify for the exemption, personal property would have to be acquired in Texas or imported into Texas and stored at a Texas location in which the owner of the goods did not have a direct or indirect ownership interest. Oil and gas and their immediate derivatives, aircraft, and dealer's special inventories would riot qualify for the exemption. In addition, the inventory would have to be transported or distributed to another location no later than 1 7 5 days after the property was acquired in or imported into the state. 2 of4 7/3/20079:08 At-.