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A BILL TO BE ENTITLED
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AN ACT
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relating to the exemption from ad valorem taxation of property |
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owned by certain nonprofit corporations that provide chilled water |
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and steam to certain health-related institutions of this state. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 11.11(i), Tax Code, is amended to read as |
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follows: |
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(i) A corporation organized under the Texas Non-Profit |
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Corporation Act (Article 1396-1.01 et seq., Vernon's Texas Civil |
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Statutes), or a successor statute, that engages primarily |
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[exclusively] in providing chilled water and steam to an eligible |
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institution, as defined by Section 301.031, Health and Safety Code, |
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is entitled to an exemption from taxation of the property the |
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corporation owns as though the property of the corporation were |
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owned by this state and used for health or educational purposes. |
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SECTION 2. This Act applies only to an ad valorem tax year |
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that begins on or after the effective date of this Act. |
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SECTION 3. This Act takes effect January 1, 2008. |