Correct.
The tax office wanted to know what the motor was from for some reason. Mine is a 302 out of a 99 explorer.
But, I think that's just so they can track it if it happened to be from a stolen car or something. I dunno.
Either way, titled as an "Assembled Vehicle" based on a car from 1965 seems to exempt from all yearly current inspection and emissions.
Though.. to be honest, San Antonio has no emissions testing anyway.. so.. that's a non issue here.
That said, re-registered this year, and despite the confusion I outlined above, I did not have to produce any inspection or emissions results to them.