Texas Tax Exemption For Higher Education Technology Corporations Amendment (2015)
From Ballotpedia | Not on Ballot |
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| This measure was not put on an election ballot |
The Texas Tax Exemption for Higher Education Technology Corporations Amendment was not on the November 3, 2015 ballot in Texas as a legislatively referred constitutional amendment. The measure, upon voter approval, would have exempted research technology corporations created by public or private higher education institutions from personal property taxation.[1][2]
The measure would have defined a "university research technology corporation" as a "special-purpose corporation created to develop and commercialize technologies that are owned wholly or partly by a public or private institution of higher education in Texas or by a nonprofit medical center development corporation with members that are institutions of higher education in Texas."
The measure was introduced into the Texas Legislature by Rep. Gary Elkins (R-135) as House Joint Resolution 64.[3]
Text of measure[edit]
Ballot title[edit]
The proposed ballot title was:[1]
| “ | The constitutional amendment authorizing the legislature to provide for an exemption from ad valorem taxation of certain property owned by or leased to or by a university research technology corporation.[4] | ” |
Constitutional changes[edit]
- See also: Article 8, Texas Constitution
The proposed amendment would have added a Section1-p to Article 8 of the Texas Constitution. The following text would have been added by the proposed measure's approval:[1]
(a) In this section, "university research technology corporation" means a special-purpose corporation created to develop and commercialize technologies that are owned wholly or partly by a public or private institution of higher education in this state or by a nonprofit medical center development corporation with members that are institutions of higher education in this state.
(b) The legislature by general law may exempt from ad valorem taxation:
- (1) the ownership interest of a university research technology corporation in real and tangible personal property;
- (2) the ownership interest of a nonprofit medical center development corporation in real and tangible personal property leased to or used or occupied primarily by a university research technology corporation; or
- (3) the leasehold interest of a university research technology corporation in real and tangible personal property leased from a nonprofit medical center development corporation.
(c) The legislature may impose eligibility requirements for an exemption authorized by this section.[4]
Opposition[edit]
Officials[edit]
- Travis County Commissioners Court[5]
Path to the ballot[edit]
- See also: Amending the Texas Constitution
The proposed constitutional amendment was filed by Rep. Gary Elkins (R-135) as House Joint Resolution 64 on January 5, 2015.[3]
A two-thirds vote in both chambers of the Texas State Legislature was required to refer this amendment to the ballot. Texas is one of 16 states that require a two-thirds supermajority vote in both chambers. The Texas House of Representatives approved the amendment on April 27, 2015, with 131 representatives voting "yea" and nine voting "nay."[3] The measure was not approved by both chambers of the legislature.
See also[edit]
External links[edit]
Footnotes[edit]
- ↑ 1.0 1.1 1.2 Texas Legislature, "HJR No. 64," accessed January 23, 2015
- ↑ Texas Legislature, "HJR No. 64 Analysis," accessed April 28, 2015
- ↑ 3.0 3.1 3.2 Texas Legislature, "HJR No. 64 History," accessed January 23, 2015
- ↑ 4.0 4.1 Note: This text is quoted verbatim from the original source. Any inconsistencies are attributable to the original source. Cite error: Invalid
<ref>tag; name "quotedisclaimer" defined multiple times with different content - ↑ Texas Legislature, "HJR No. 64 Witnesses," accessed April 28, 2015
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Categories: [Texas 2015 ballot measures] [Did not make ballot, taxes] [Did not make ballot, education] [State ballots, 2015] [Not on the ballot past date statewide ballot measures]
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