1-1     By:  Madla                                            S.B. No. 1558
 1-2           (In the Senate - Filed March 9, 2001; March 14, 2001, read
 1-3     first time and referred to Committee on Veteran Affairs and
 1-4     Military Installations; April 26, 2001, reported adversely, with
 1-5     favorable Committee Substitute by the following vote:  Yeas 5, Nays
 1-6     0; April 26, 2001, sent to printer.)
 1-7     COMMITTEE SUBSTITUTE FOR S.B. No. 1558            By:  Van de Putte
 1-8                            A BILL TO BE ENTITLED
 1-9                                   AN ACT
1-10     relating to defense base development authorities.
1-11           BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-12           SECTION 1.  Section 378.011, Local Government Code, is
1-13     amended by amending Subsection (b) and adding Subsection (c) to
1-14     read as follows:
1-15           (b)  Section 25.07(a), Tax Code, does not apply [applies] to
1-16     a leasehold or other possessory interest in real property granted
1-17     by an authority for a project designated under Section 378.009(a)
1-18     [in the same manner as it applies to a leasehold or other
1-19     possessory interest in real property constituting a project
1-20     described by Section 4B(k), Development Corporation Act of 1979
1-21     (Article 5190.6, Vernon's Texas Civil Statutes)].  Projects are
1-22     exempt from taxation under Section 11.11, Tax Code, for the period
1-23     of such lease or other possessory interest.
1-24           (c)  This subsection and Subsection (b) expire September 1,
1-25     2007.
1-26           SECTION 2.  This Act takes effect immediately if it receives
1-27     a vote of two-thirds of all the members elected to each house, as
1-28     provided by Section 39, Article III, Texas Constitution.  If this
1-29     Act does not receive the vote necessary for immediate effect, this
1-30     Act takes effect September 1, 2001.
1-31                                  * * * * *