Let’s look at Proposition 10. Here’s the language that will be on the ballot:
Relating to the exemption from ad valorem taxation of equipment or inventory held by a manufacturer of medical or biomedical products to protect the Texas healthcare network and strengthen our medical supply chain.
The bill would amend Chapter 11 of the Tax Code to provide a property tax exemption for certain tangible property held by a manufacturer of medical or biomedical products as a finished good or used in the manufacturing or processing of medical or biomedical products.
What does this mean? It means that medical manufacturers will get property tax relief if this proposition passes. According to the fiscal analysis done by the Legislative Budget Board, this proposition will cost school districts $43M in 2024 increasing to $60M in 2028. These lost funds will either not be recouped, or hard-working Texas families will have to cover the gap.
Is it more important for medical manufacturers to get a tax break or for public schools to get funded? That’s the question on this one. For me, it’s public schools every time. I recommend a NO vote on Prop 10.
Michelle LoweSolis BCDP Communications Co-chair and SDEC SD25 Committee Member
Click HERE to view all the proposed Amendments to the Texas Constitution for the November 2023 Ballot.
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