Texas Tax Code

§ 24.34 — INTERSTATE ALLOCATION

TX § 24.34Title 1. PROPERTY TAX CODE · Part D. APPRAISAL AND ASSESSMENT · Ch. 24. CENTRAL APPRAISAL · Art. B. RAILROAD ROLLING STOCK

Statute text

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(a)If the railroad operates in another state or country, the chief appraiser shall allocate to this state the proportion of the total market value of the rolling stock that fairly reflects its use in this state during the preceding tax year.

(b)The comptroller shall adopt rules establishing formulas for interstate allocation of the value of railroad rolling stock.

Legislative history

Acts 1979, 66th Leg., p. 2267, ch. 841, Sec. 1, eff. Jan. 1, 1980. Amended by Acts 1981, 67th Leg., 1st C.S., p. 155, ch. 13, Sec. 91, eff. Aug. 14, 1981; Acts 1991, 72nd Leg., 2nd C.S., ch. 6, Sec. 37, eff. Sept. 1, 1991.