SRC-JEC H.B. 824 77(R) BILL ANALYSIS Senate Research Center H.B. 824 By: Ellis, Dan (Bernsen) Intergovernmental Relations 5/11/2001 Engrossed DIGEST AND PURPOSE Current law does not exempt county fair associations that own land and buildings from ad valorem taxation of the property. While most county fair association property is owned by a county and is therefore exempt, and other counties give the county tax assessors discretion to exempt the property owned by the county fair association, a statewide policy to exempt county fair associations from taxation of property would benefit those county fair associations that are not presently exempt. H.B. 824 entitles a nonprofit county fair association that is organized to hold agricultural fairs and encourage agricultural pursuits to a tax exemption on the land and buildings it owns and uses to hold agricultural fairs. RULEMAKING AUTHORITY This bill does not expressly grant any additional rulemaking authority to a state officer, institution, or agency. SECTION BY SECTION ANALYSIS SECTION 1. Amends Section 11.23, Tax Code, by adding Subsection (h), as follows: (h) County Fair Associations. Entitles a county fair association organized to hold agricultural fairs and encourage agricultural pursuits to an exemption from taxation of the land and buildings that it owns and uses to hold agricultural fairs. Sets forth conditions necessary to qualify for an exemption under this subsection. SECTION 2. Effective date: January 1, 2002. Makes application of this Act prospective.