Understanding Proposition 10: Tax exemption on medical equipment and inventory
BRYAN, Texas (KBTX) – Texas Proposition 10 is one of the constitutional amendments making an appearance on the ballot for the 2023 General Election.
The “Tax Exemption on Medical Equipment and Inventory Amendment” would authorize the state legislature to exempt taxes on finished goods from medical manufacturers.
On the ballot, voters will choose either “for” or “against” on this proposition.
Senate Bill 2289 defines “medical and biomedical property” as “tangible property that is stored, used, or consumed in the manufacturing or processing of medical or biomedical products by a medical or biomedical manufacturer; or (B) intended for use in the diagnosis, cure, mitigation, treatment, or prevention of a condition or disease or in medical or biomedical research.” This would include devices, therapeutics, pharmaceuticals, personal protective equipment, tools, implants, instruments, and apparatuses.
If passed, the law would take effect on Jan. 1, 2024.
Important Dates to Remember:
Oct. 23 – Early voting startsOct. 27 – Deadline for counties to receive mail-in ballot requestsNov. 3 – Early Voting EndsNov. 7 – Election Day
