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A BILL TO BE ENTITLED
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AN ACT
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relating to the monitoring of compliance with low-income and |
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moderate-income housing ad valorem tax exemptions. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 11.1826, Tax Code, is amended by adding |
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Subsection (g) to read as follows: |
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(g) For purposes of determining whether an organization has |
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satisfied the requirements of Subsection (b) or (e) of this section |
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in order to qualify for an exemption under Section 11.1825 or |
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11.182, respectively, an opinion included in an audit of the |
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organization prepared by an independent auditor who is licensed by |
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this state as a certified public accountant or a determination of |
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tax-exempt status under Section 501(c), Internal Revenue Code of |
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1986, issued by the United States Internal Revenue Service is prima |
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facie evidence of the facts stated in the opinion or determination. |
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SECTION 2. This Act applies only to ad valorem taxes imposed |
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for a tax year beginning on or after the effective date of this Act. |
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SECTION 3. This Act takes effect January 1, 2012. |