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Senate committee forwards resolution proposing permanent capital‑gains tax exemption to voters
Summary
The Committee on Finance voted to refer SJR 18, a joint resolution to amend the Texas Constitution to permanently exempt capital gains from taxation, to the full Senate with a favorable recommendation (10 ayes, 1 nay). Sponsor said the amendment would make capital‑gains exemption perpetual until voters decide otherwise.
Chair Huffman recognized Senator Perry to lay out SJR 18, a joint resolution to amend the Texas Constitution to exempt capital gains from taxation.
Senator Perry said, “SJR 18 exempt permanently in statute by constitutional amendment that capital gains will not be taxed in Texas.” When Senator West asked whether the exemption…
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