By McDonald                                           H.B. No. 1692
                                 A BILL TO BE ENTITLED
    1-1                                AN ACT
    1-2  relating to the property tax exemption of certain airport property.
    1-3        BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
    1-4        SECTION 1.  Section 11.11, Texas Property Tax Code, is
    1-5  amended by adding a new paragraph (h) to read as follows:
    1-6        (h)  Property owned by a political subdivision of the state
    1-7  which was acquired for airport purposes, but is rented or leased
    1-8  for compensation to a private business enterprise, is exempt from
    1-9  taxation if (1) the property is leased in conformity with the
   1-10  Municipal Airports Act (Section 49 d-1 et. sec. Texas Revised Civil
   1-11  Statutes) and Section 509 (d) Airport and Airways Improvements Act
   1-12  of 1982, as amended, 49 USC 2201, et sec. and (2)  the compensation
   1-13  from rent or lease payments is used solely for the operation,
   1-14  maintenance, or improvement of the airport.
   1-15        SECTION 2.  The importance of this legislation and the
   1-16  crowded condition of the calendars in both houses create an
   1-17  emergency and an imperative public necessity that the
   1-18  constitutional rule requiring bills to be read on three separate
   1-19  days in each house be suspended, and this rule is hereby suspended.