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A BILL TO BE ENTITLED
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AN ACT
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relating to the exemption from taxation of property of a local |
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government corporation. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 431.102(b), Transportation Code, is |
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amended to read as follows: |
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(b) The property of a local government corporation that is |
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located within the boundaries of a local government that the local |
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government corporation was created to aid and act on behalf of and a |
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transaction to acquire that [the] property are [is] exempt from |
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taxation in the same manner as a corporation created under Chapter |
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394, Local Government Code. |
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SECTION 2. This Act takes effect immediately if it receives |
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a vote of two-thirds of all the members elected to each house, as |
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provided by Section 39, Article III, Texas Constitution. If this |
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Act does not receive the vote necessary for immediate effect, this |
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Act takes effect September 1, 2011. |