Relating to an exemption from ad valorem taxation of tangible personal property consisting of animal feed held by the owner of the property for sale at retail.

SB 994 creates a property tax exemption for animal feed held by owners (like feed stores) for retail sale, directly affecting businesses selling animal feed. It adds Section 11.162 to the Texas Tax Code, exempting the appraised value of such feed from ad valorem taxes if it already qualifies for sales tax exemption under Section 151.316(a)(3) or (4). The exemption applies only to tax years starting January 1, 2026, but requires voter approval of a related constitutional amendment first. If the amendment fails, the bill has no effect.