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G-11-10-06-10C12 - 10/6/2011ORDINANCE NO. (1't1'to'X- 10612— AN 0612 - AN ORDINANCE PROVIDING FOR THE CONTINUED TAXATION OF GOODS -IN - TRANSIT AS DEFINED IN TEXAS TAX CODE SECTION 11.253(A)(2); AND PROVIDING FOR A SAVINGS CLAUSE AND REPEALING CONFLICTING ORDINANCES AND RESOLUTIONS. WHEREAS, the 80th Texas Legislature in Regular Session enacted House Bill 621 to take effect on January 1, 2008, which amended Tex. Tax Code §11.253 to exempt from taxation certain tangible personal property held temporarily at a location in this state for assembling, storing, manufacturing, processing or fabricating purposes ("goods -in -transit") which property has been subject to taxation in the past; and WHEREAS, the 82nd Texas Legislature in Special Session, enacted Senate Bill 1, to take effect on September 1, 2011, which would require a taxing unit to take action, in the required manner, after October 1, 2011, to provide for the taxation of goods -in - transit; and WHEREAS, Tex. Tax Code §11.253(j) as amended allows the governing body of a taxing unit, after conducting a public hearing, to provide for the continued taxation of such goods -in -transit; and WHEREAS, the City Council conducted a public hearing as required by Section 1-n(d), Article VIII, Texas Constitution, and is of the opinion that it is in the best interests of the City to continue to tax such goods -in -transit; Now Therefore BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF ROUND ROCK, TEXAS: O:\wdox\SCCInts\0112\ 1104\MUNICIPAL\00233729.DOC The goods -in -transit, as defined Texas Tax Code Section 11.253(a)(2), shall remain subject to taxation by the City of Round Rock, Texas. 11. A. All ordinances, parts of ordinances, or resolutions in conflict herewith are expressly repealed. B. The invalidity of any section or provision of this ordinance shall not invalidate other sections or provisions thereof. C. The City Council hereby finds and declares that written notice of the date, hour, place and subject of the meeting at which this Ordinance was adopted was posted and that such meeting was open to the public as required by law at all times during which this Ordinance and the subject matter hereof were discussed, considered and formally acted upon, all as required by the Open Meetings Act, Chapter 551, Texas Government Code, as amended. Alternative 1. By motion duly made, seconded and passed with an affirmative vote of all the Council members present, the requirement for reading this ordinance on two separate days was dispensed with. READ, PASSED, and ADOPTED on first reading this day of QD �.•�� , 2011. Alternative 2. READ and APPROVED on first reading this the day of , 2011. 2 READ, APPROVED and ADOPTED on second reading this the day of , 2011. ALAN MCGRAW, Mayor City of Round Rock, Texas ATTEST: e4444A.-,et6t6- SARA L. WHITE, City Secretary 3 City Council Agenda Summary Sheet Agenda Item No. 10C12. Consider an ordinance providing for the continued taxation of Goods -in -transit. (First Agenda Caption: Reading) Meeting Date: October 6, 2011 Department: Finance Staff Person making presentation: Cheryl Delaney Finance Director Item Summary: The 82nd Texas Legislature enacted SB 326 which exempts from taxation certain tangible personal property held temporarily at a location in the state for the assembling, storing, manufacturing, processing or fabricating purposes (goods -in -transit). This type of property has been subject to taxation in the past. The law allows for municipalities to continue to tax this property after holding one public hearing and adopting an ordinance taxing such goods -in - transit by the end of the calendar year. If the resolution is not approved, this would reduce the amount of property tax revenue the City receives by approximately $80,000. A similar item was brought before the council in 2007 and was approved. SB 326 amends the Tax Code to prohibit taxing units from taxing goods -in -transit in a tax year that begins on or after January 1, 2012, unless the governing body of the taxing unit takes action on or after September 1, 2011, in the manner required for official action by the governing body, to provide for the taxation of the goods -in -transit. If the governing body fails to pass the required resolution by the indicated date, the new legislation will allow an exemption from taxation for such goods. A public hearing of this item was also heard on this date. Cost: N/A Source of Funds: N/A Date of Public Hearing (if required): N/A Recommended Action: Approval