Constitution of the State of Texas 1876 Art. 8, § 24-b. Capital Gains Tax Prohibited

(a) Subject to Subsection (b) of this section, the legislature may not impose a tax on the realized or unrealized capital gains of an individual, family, estate, or trust, including a tax on the sale or transfer of a capital asset that is payable by the individual, family, estate, or trust selling or transferring the asset.

(b) This section may not be construed as modifying the applicability or prohibiting the imposition or change in the rate of: