Amend HB 2821 by adding a new section to the bill,
appropriately numbered, to read as follows, and renumbering
subsequent sections of the bill accordingly:
      SECTION ____. (a)  Section 11.23, Tax Code, is amended by
adding Subsection (h) to read as follows:
      (h)  County Fair Associations.  A county fair association
organized to hold agricultural fairs and encourage agricultural
pursuits is entitled to an exemption from taxation of the land and
buildings that it owns and  uses to hold agricultural fairs.  To
qualify for an exemption under this subsection, a county fair
association must:
            (1)  be a nonprofit corporation as defined by the Texas
Non-Profit Corporation Act;
            (2)  be exempt from federal income taxes as an
organization described by Section 501(c)(3), Internal Revenue Code
of 1986, as amended;
            (3)  qualify for an exemption from the franchise tax
under Section 171.060; and
            (4)  meet the requirements of a charitable organization
provided by Sections 11.18(e) and (f), for which purpose the
functions for which the association is organized are considered to
be charitable functions.
      (b)  This section takes effect January 1, 2000, and applies
only to ad valorem taxes imposed for a tax year that begins on or
after that date.