By: Van de Putte S.B. No. 1711 A BILL TO BE ENTITLED 1-1 AN ACT 1-2 relating to allowing taxing units to enter into tax abatement 1-3 agreements with the owners of leasehold interests. 1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-5 SECTION 1. Subchapter A, Chapter 312, Tax Code, is amended 1-6 by adding Section 312.007 to read as follows: 1-7 Sec. 312.007. TAX ABATEMENT APPLICABLE TO LEASEHOLD 1-8 INTEREST. For purposes of tax abatement under this chapter, the 1-9 owner of a leasehold interest in real property is considered to be 1-10 the owner of real property, and a reference to the owner's real 1-11 property in a provision of this chapter applicable to a tax 1-12 abatement agreement applies to the leased premises subject to the 1-13 leasehold interest. A tax abatement agreement entered into by a 1-14 taxing unit under this chapter with the owner of a leasehold 1-15 interest may apply to: 1-16 (1) the taxable value, if any, of the leasehold 1-17 interest in the same manner as a tax abatement agreement with the 1-18 owner of real property would apply to the taxable value of the real 1-19 property; and 1-20 (2) tangible personal property located on the leased 1-21 premises in the same manner as a tax abatement agreement with the 1-22 owner of real property would apply to the tangible personal 1-23 property located on the real property. 1-24 SECTION 2. This Act takes effect immediately if it receives 1-25 a vote of two-thirds of all the members elected to each house, as 2-1 provided by Section 39, Article III, Texas Constitution. If this 2-2 Act does not receive the vote necessary for immediate effect, this 2-3 Act takes effect September 1, 2001.