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A BILL TO BE ENTITLED
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AN ACT
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relating to the use of a tax-exempt property of a higher education |
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development foundation or an alumni association. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 11.11(f), Tax Code, is amended to read as |
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follows: |
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(f) Property of a higher education development foundation |
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or an alumni association that is located on land owned by the state |
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for the support, maintenance, or benefit of an institution of |
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higher education as defined in Chapter 61, Education Code, is |
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exempt from taxation if: |
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(1) the foundation or organization meets the |
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requirements of Sections 11.18(e) and (f) and is organized |
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exclusively to operate programs or perform other activities for the |
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benefit of institutions of higher education; and |
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(2) the property is used primarily [exclusively] in |
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those programs or activities. |
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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, 2013. |