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A BILL TO BE ENTITLED
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AN ACT
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relating to the eligibility for an exemption from ad valorem |
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taxation for property used by certain nonprofit community business |
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organizations. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 11.231, Tax Code, is amended by adding |
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Subsection (a-1) to read as follows: |
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(a-1) In addition to an organization described by |
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Subsection (a), in this section, "nonprofit community business |
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organization" also means a Type A corporation governed by Chapter |
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504, Local Government Code, and a Type B corporation governed by |
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Chapter 505, Local Government Code. |
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SECTION 2. This Act applies only to ad valorem taxes imposed |
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for a tax year that begins on or after the effective date of this |
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Act. |
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SECTION 3. This Act takes effect January 1, 2016. |