Texas The Texas Constitution

§ 8.1-n — EXEMPTION FROM AD VALOREM TAXATION OF TANGIBLE PERSONAL PROPERTY HELD TEMPORARILY FOR CERTAIN COMMERCIAL PURPOSES

CN § 8.1-n

Statute text

(a)To promote economic development in this state, the legislature by general law may exempt from ad valorem taxation goods, wares, merchandise, other tangible personal property, and ores, other than oil, natural gas, and other petroleum products, if:

(1)the property is acquired in or imported into this state to be forwarded to another location in this state or outside this state, whether or not the intention to forward the property to another location in this state or outside this state is formed or the destination to which the property is forwarded is specified when the property is acquired in or imported into this state;

(2)the property is detained at a location in this state that is not owned or under the control of the property owner for assembling, storing, manufacturing, processing, or fabricating purposes by the person who acquired or imported the property; and

(3)the property is transported to another location in this state or outside this state not later than 270 days after the date the person acquired the property in or imported the property into this state.

(b)For purposes of this section:

(1)tangible personal property includes aircraft and aircraft parts;

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