Introduced by Rep. Steven Johnson R-Wayland on September 29, 2021
To revise a small business exemption on paying property taxes on the value of their tools and equipment (called the “personal property tax), by indexing the current $80,000 cap on the exemption to inflation. Official Text and Analysis.
Referred to the House Tax Policy Committee on September 29, 2021
Reported in the House on December 8, 2021
Without amendment and with the recommendation that the bill pass.
Substitute offered by Rep. Steven Johnson R-Wayland on December 8, 2021
To adopt a version of the bill that doubles the current small business personal property tax exemption, not just indexes it to inflation (but do that too).
The substitute passed by voice vote in the House on December 8, 2021
To double the a small business exemption on the value of business tools and equipment subject to property taxes (called the “personal property tax"), from $80,000 to $160,000, and also index this to inflation going forward.