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.