By: Madla S.B. No. 1558
Line and page numbers may not match official copy.
Bill not drafted by TLC or Senate E&E.
A BILL TO BE ENTITLED
1-1 AN ACT
1-2 Relating to defense base development authorities.
1-3 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-4 SECTION 1. Amend Subtitle A, Title 12, Section 378.011(b) of
1-5 the Local Government Code to read as follows:
1-6 Sec. 378.011(b) Section 25.07(a), Tax Code, [applies] does not
1-7 apply to a leasehold or other possessory interest in real property
1-8 granted by an authority for a project designated under Section
1-9 378.009(a). [in the same manner as is applies to a leasehold or
1-10 other possessory interest in real property constituting a project
1-11 described by Section 4B(k), Development Corporation Act of 1979
1-12 (Article 5190.6, Vernon's Texas Civil Statutes)]. Projects are
1-13 exempt from taxation under Section 11.11, Tax Code, for the period
1-14 of such lease or other possessory interest.
1-15 SECTION 2. This Act takes effect immediately if it receives
1-16 a vote of two-thirds of all the members elected to each house, as
1-17 provided by Section 39, Article III, Texas Constitution. If this
1-18 Act does not receive the vote necessary for immediate effect, this
1-19 Act takes effect September 1, 2001.