Proposing a constitutional amendment authorizing the legislature to exempt from ad valorem taxation tangible personal property consisting of animal feed held by the owner of the property for sale at retail.

SJR 46 proposes a constitutional amendment that would allow the Texas legislature to create a property tax exemption for animal feed held by retailers for sale. This would directly affect businesses that sell animal feed, potentially reducing their property tax burden on inventory held for retail. The amendment, if approved by voters in November 2025, would authorize future laws to exempt such feed from ad valorem taxation. It does not create the exemption automatically but enables the legislature to establish it through future legislation. The bill is currently pending in committee after a public hearing.