Texas Tax Code
Sec. § 11.141
Precious Metal Held in Precious Metal Depository


(a)

For purposes of this section:

(1)

“Precious metal” has the meaning assigned by Section 2116.001 (Definitions), Government Code.

(2)

“Precious metal depository” means a depository that:

(A)

is primarily engaged in the business of providing precious metal storage to the general public; and

(B)

maintains sufficient insurance to cover precious metal deposited in the depository.

(b)

A person is entitled to an exemption from taxation of the precious metal that the person owns and that is held in a precious metal depository located in this state, regardless of whether the precious metal is held or used by the person for the production of income.

(c)

Notwithstanding Section 11.14 (Tangible Personal Property Not Producing Income)(c), the governing body of a taxing unit may not provide for the taxation of precious metal exempted from taxation under Subsection (b).
Added by Acts 2019, 86th Leg., R.S., Ch. 459 (H.B. 2859), Sec. 1, eff. January 1, 2020.
Sec. 11.145. INCOME-PRODUCING TANGIBLE PERSONAL PROPERTY HAVING VALUE OF LESS THAN $500. (a) A person is entitled to an exemption from taxation of the tangible personal property the person owns that is held or used for the production of income if that property has a taxable value of less than $500.

(b)

The exemption provided by Subsection (a) applies to each separate taxing unit in which a person holds or uses tangible personal property for the production of income, and, for the purposes of Subsection (a), all property in each taxing unit is aggregated to determine taxable value.
Added by Acts 1995, 74th Leg., ch. 296, Sec. 1, eff. Jan. 1, 1996.
Sec. 11.146. MINERAL INTEREST HAVING VALUE OF LESS THAN $500. (a) A person is entitled to an exemption from taxation of a mineral interest the person owns if the interest has a taxable value of less than $500.

(b)

The exemption provided by Subsection (a) applies to each separate taxing unit in which a person owns a mineral interest and, for the purposes of Subsection (a), all mineral interests in each taxing unit are aggregated to determine value.
Added by Acts 1995, 74th Leg., ch. 296, Sec. 1, eff. Jan. 1, 1996.
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May. 14, 2021