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HB 0374 - Ad Valorem Tax Exemption for Forest Equipment In Dealer Inventory
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Tracking Level: Oppose
Sponsor: Nix, Randy 69th
Last Action: 7/1/2015 - Effective Date
State Code Titles: 48
House Committee: W&M
Senate Committee: FIN
Assigned To:
Clint MuellerNext Bill
Property TaxNext Bill

Staff Analysis of the Legislation
This bill expands the current ad valorem tax exemption for farm equipment held for sale in dealer inventory to now include equipment used for forestry operations. The bill also clarifies that farm equipment purchased through a lease purchase agreement is eligible for the ad valorem tax exemption.  This legislation may have a financial impact on counties that have forest equipment dealers.

Bill Summary from the State Site - Click for the State Summary Page / Click for Current Full Text






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