BILL ANALYSIS

Senate Research Center	S.B. 579
	By: Hughes
	Property Tax
	5/22/2019
	Enrolled

AUTHOR'S / SPONSOR'S STATEMENT OF INTENT

S.B. 579 amends current law relating to the exemption from ad valorem taxation of certain property owned by the TexAmericas Center.

RULEMAKING AUTHORITY

This bill does not expressly grant any additional rulemaking authority to a state officer, institution, or agency.

SECTION BY SECTION ANALYSIS

SECTION 1. Amends Subchapter D, Chapter 3503, Special District Local Laws Code, by adding Section 3503.1541, as follows:

Sec. 3503.1541. CERTAIN PROPERTY EXEMPT FROM TAXATION. (a) Provides that a leasehold or other possessory interest granted to a person by the TexAmericas Center (authority) or by a nonprofit corporation holding title for the authority is owned, used, and held for a public purpose for and on behalf of the authority and is exempt from taxation under Section 11.11 (Public Property), Tax Code.

(b) Provides that Section 25.07(a) (relating to requiring that a leasehold or possessory interest in tax-exempt property be listed in the name of the owner of the possessory interest), Tax Code, does not apply to a leasehold or other possessory interest granted to a person by the authority or by a nonprofit corporation holding title for the authority during the period the authority or nonprofit corporation owns the estate or interest encumbered by the possessory interest.

SECTION 2. Makes application of this Act prospective.

SECTION 3. Effective date: January 1, 2020.