Texas House Committee Approves Tax Breaks For Yachts
The Texas House Ways and Means Committee approved a tax break for those who buy yachts costing $250,000 or more.
In a vote late Thursday, the committee approved a bill by Houston Republican Rep. John Davis. The proposed law would cap the maximum sales tax the state would collect on the sale of a personal boat.
Davis says the measure is needed because Florida has a similar law and boat buyers are going there to make their purchases. The measure passed on an 8-3 vote along party lines.
It next goes to the full House.Click here for reuse options!
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