83rd Texas Legislature, Regular Session, House Bill 3121, Chapter 1402 Page: 1 of 5
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H.B. No. 3121
1 AN ACT
2 relating to the qualifications for the exemption from ad valorem
3 taxation for aircraft parts located in this state for a limited
5 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
6 SECTION 1. Section 11.251, Tax Code, is amended by amending
7 Subsections (b), (c), (e), (g), and (k) and adding Subsection (1) to
8 read as follows:
9 (b) A person is entitled to an exemption from taxation by a
10 taxing unit of the appraised value of that portion of the person's
11 inventory or property consisting of freeport goods as determined
12 under this section for the taxing unit.
13 (c) The exemption provided by Subsection (b) is subtracted
14 from the market value of the inventory or property determined under
15 Section 23.12 to determine the taxable value of the inventory or
16 property for the taxing unit.
17 (e) In determining the market value of freeport goods that
18 in the preceding year were assembled, manufactured, repaired,
19 maintained, processed, or fabricated in this state or used by the
20 person who acquired or imported the property in the repair or
21 maintenance of aircraft operated by a certificated air carrier, the
22 chief appraiser shall exclude the cost of equipment, machinery, or
23 materials that entered into and became component parts of the
24 freeport goods but were not themselves freeport goods or that were
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Texas. Legislature. House of Representatives. 83rd Texas Legislature, Regular Session, House Bill 3121, Chapter 1402, legislative document, June 14, 2013; [Austin, Texas]. (texashistory.unt.edu/ark:/67531/metapth437610/m1/1/: accessed October 15, 2018), University of North Texas Libraries, The Portal to Texas History, texashistory.unt.edu; crediting UNT Libraries Government Documents Department.