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A BILL TO BE ENTITLED
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AN ACT
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relating to a leasehold or other possessory interest in real |
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property granted by a public facility corporation for a public |
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facility. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 303.042, Local Government Code, is |
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amended by adding Subsection (f) to read as follows: |
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(f) Notwithstanding Subsections (a) and (b), during the |
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period of time that a corporation owns a particular public |
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facility, a leasehold or other possessory interest in the real |
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property of the public facility granted by the corporation shall be |
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treated in the same manner as a leasehold or other possessory |
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interest in real property granted by an authority under Section |
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379B.011(b). |
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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, 2015. |