1. (a) A person is entitled to an exemption from taxation of a marine cargo container and the equipment related to the container that the person owns if:

   1. (1) the person is:

      1. (A) a citizen of a foreign country; or
      2. (B) an entity organized under the laws of a foreign country; and

   2. (2) the container is:

      1. (A) based, registered, and subject to taxation in a foreign country; and
      2. (B) used exclusively in international commerce.

2. (b) In this section, "marine cargo container":

   1. (1) means a container that may be:

      1. (A) used to transport goods by ship;
      2. (B) readily handled;
      3. (C) transferred from one mode of transport to another without reloading; and
      4. (D) used repeatedly; and
   2. (2) includes a container that is fully or partially enclosed so as to serve as a compartment for goods, has an open top suitable for loading goods into the container, or consists of a flat rack suitable for securing goods onto the container.

Added by Acts 1997, 75th Leg., ch. 726, Sec. 1, eff. Sept. 1, 1997.