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.

HB 1399 creates a property tax exemption for animal feed held by owners for retail sale in Texas. It directly affects agricultural retailers and feed suppliers who currently pay ad valorem (property) taxes on inventory. The bill exempts this inventory from property tax if it's already exempt from sales/use taxes under existing law. The exemption applies only to tax years starting January 1, 2026, but only if voters approve a related constitutional amendment in the November 2025 election. If the amendment fails, the bill has no effect.