HOUSE BILL 824 |
HOUSE AUTHOR: Ellis, Dan et al. |
EFFECTIVE: 01-01-02 |
SENATE SPONSOR: Bernsen |
House Bill 824 amends the Tax Code to provide that a nonprofit, tax-exempt county fair association that is organized to hold agricultural fairs and that meets the requirements of a charitable organization is entitled to a property tax exemption of the land and buildings it owns and uses to hold the fairs. An association that has been issued a license after January 1, 2001, to conduct a horse race meeting or a greyhound race meeting with pari-mutuel wagering is not qualified to have its land or buildings exempt from the tax.